@Launched I just want to clarify. I am definitely seeing a Put opportunity on CBA. I am just suggesting that it might build to a top out on their reporting on the 12th I think you mentioned. Perfect opportunity for the retail to buy what the instos are selling IMO. Maybe a day or so after that, similar to the last Report. I had expected the chart today to be more closely aligned but maybe by showing how much enthusiasm is in the stock, should help in a major push on Monday.
I am presently thinking a drop to the MA200 line is highly likely and much lower on a blow up of the markets in general. Therefore $103 may be possible in the short term. Whatever would push this to that level is likely to allow it to continue further down.
I mentioned $120 as the market likes round number targets so $120.50 or $121 will get the buyers in. As was pointed out earlier by one genius, the round number of 5000 (nearly) has been hit. So, what next? Ummmm... yeah... target reached and now weakness or possibly lacking strength lol
Today, the calls to puts are higher, but I would suggest a lot of those were call writes offset partly by put writes.
As to charts, I agree. Both weekly and daily showing divergences.
As you have pointed out, a lot of what is going to occur is likely to happen due to the US banking situation. I totally agree.
I also see problems within the Chinese markets and even with their limited pushing over the last few days, they have major credit and economic problems. This could cause a greater issue with Oz stocks, especially in the materials sector. A prelude to this is how those major stocks have been performing with a pullback earlier than the general markets here (and overseas).
(20min delay)