There is a thing call stop-loss, or try some puts on ANZ, or any bank if you think the bank-bash is going to be short-term. Australia has just started a possible world-wide trend of interest rate increase. If UK will increase interest rate tomorrow, the banks will be hit again. The all so familiar credit squeeze, defaults, reduced loan business, bad debts etc. etc. will hit the banks. The market is not singling out ANZ as the bad guy, look at WBC down 1.9%, NAB 1.3%, CBA 0.5%, SGB 2.3% after record profits. The market has spoken, listen to it. It is not the little old lady next doors selling her 150 ANZ shares. We are talking about billions of $ of bank shares dumped everyday.
ANZ Price at posting:
0.0¢ Sentiment: Sell Disclosure: Not Held
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