I got in ANZ in the mid $19's last Sept and sold in April/March at $23.85 so I am very happy with that trade. So full disclosure on my behalf.
As for your question, if I were a holder I def would consider selling (depending on entry price). With the macro economy the way it is I can't see this bank rally sustaining itself. Debt ceiling fight coming up, further problems in Europe (yields on Spanish/Italian debt is still extremely high) with Spains not far off the critical 7% mark. Doubt over QE3 (especially from the resent US economic data, and just doesn't seem right with the DOW & S&P500 so high). Greece, did I mention Greece? Just looks like a bit of a bull trap IMHO.
But you do have good dividend yields and strong profits working in your favour if you see it in a different light. Plus ANZ is my pick of the big four with sustained expansion in Asia.
But nothing ever goes up in a straightforward line, I will be lookin to re-enter around the $22-$20 range. Possible it will get there, look at the charts. I might be wrong but I would not be considering opening a position ATM.
Happy for others to express a different view.
ANZ Price at posting:
$24.61 Sentiment: ST Sell Disclosure: Not Held
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