re: chart nab,cheech The problem with charts and technical...

re: chart nab,cheech The problem with charts and technical analysis which although useful if the inputs can be relied on 100% is that unless the fundamentals (policy, management personnel and their track record, other factors such as government fiscal and monetary policy in this case) does not support the technical analysis, you do not have 'a line of best fit' and are better off with a scattergtraph approach to the analysis.

My comments are based on analysis supported by internal information and accurate records and economic information that simply did not support the PR that has been coming out of banks and Saul Eslake or the government on the economy and the prosperity brought about by low interest rates.

The three banks mentioned are heavily tilted to high risk loans exposure and collections are at an all time high with the larger law firms reporting record activity in the area brought about by falling jobs, retrenchments not made public and high gearing borrowing which has recently seen casualties from small movements in interest rates upwards.