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     jimmyswell
Member
Username: jimmyswell
Post Number: 251
Registered: 07-2006Rating: N/A
Votes: 0
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| | Sunday, August 24, 2008 - 08:46 pm: |  
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The most recent CBA post I could find was in 2004.
Does this look like a short term range trade to anyone else besides me?
It seems to have been respecting the yellow shallow uptrend line and returning a short-term 5-10% increase within a week or so.
I think I'll buy in around the $40ish mark and jump out when it nudges the 105d MA.
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jimmyswell
Member
Username: jimmyswell
Post Number: 255
Registered: 07-2006Rating: N/A
Votes: 0
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| | Saturday, September 06, 2008 - 07:04 pm: |
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Two weeks later and I've got a buy order in for $41, which is near enough to the intersection point with the indicated yellow line.
At this stage, my plan is to sell out when it closes above $44, which should be the touch point of the 150d MA shown in dark green.
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tryhay
Member
Username: tryhay
Post Number: 1141
Registered: 09-2005
Rating: N/A
Votes: 0
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| | Sunday, September 07, 2008 - 08:25 am: |
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Hi Jimmyswell,
jimmyswell wrote on Saturday, September 06, 2008 - 06:04 pm:Two weeks later and I've got a buy order in for $41, which is near enough to the intersection point with the indicated yellow line.
In this free world you are able to do whatever you care to ~ as long as you accept the consequences.;...
FWIW the weekly chart below does not suggest to me a screaming buy ~ for similar reasons to those listed in the PDN thread this morning.
CBA Chart:
where is HC or Anne when one needs them? ~ unless one does it oneself
Happy trading DYOR
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jimmyswell
Member
Username: jimmyswell
Post Number: 259
Registered: 07-2006Rating: N/A
Votes: 0
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| | Sunday, September 21, 2008 - 07:30 pm: |
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Well, I eventually got in at $41 and hope to ride it up to cross the 150 MA at about $44, where I will get out.
I agree with tryhay that it's not an attractive long-term buy but as a short term proposition, a $3 gain from a $41 investment over 2 weeks will offset some of my losses elsewhere.
(Message edited by jimmyswell on September 21, 2008)
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tryhay
Member
Username: tryhay
Post Number: 1148
Registered: 09-2005
Rating: N/A
Votes: 0
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| | Sunday, September 21, 2008 - 08:31 pm: |
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jimmyswell wrote on Sunday, September 21, 2008 - 06:30 pm:a $3 gain from a $41 investment over 2 weeks will offset some of my losses elsewhere
Hi jimmyswell,
Yes I am also thinking that way on a number of top 200 shares. I had originally thought this was a bear flag formation but if the pump and dump on the US markets keeps up for some time (together with consolidation) then your target is achievable...
Daily chart: Slo Sto & some other indicators looking good IMO
I have to get out of my WBC short ~ this bounce seems to have some short term legs IMO
(Message edited by tryhay on September 21, 2008)
Happy trading DYOR
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jimmyswell
Member
Username: jimmyswell
Post Number: 263
Registered: 07-2006Rating: N/A
Votes: 0
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| | Sunday, September 28, 2008 - 11:03 pm: |
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Well, I've become greedy haven't I?
I have a sell order in for $45 and the price reached a tantalising high of $44.98 during the week.
If I get a sale, then I'll look at buying back in around $41 if the signals look like bouncing off the steeper of the yellow up-trend-lines.
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jimmyswell
Member
Username: jimmyswell
Post Number: 266
Registered: 07-2006Rating: N/A
Votes: 0
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| | Sunday, October 05, 2008 - 02:26 pm: |
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Confirming that I've sold out at $45.
Now it's a case of waiting for the dip and seeing which trendline is the bouncepoint.
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jimmyswell
Member
Username: jimmyswell
Post Number: 268
Registered: 07-2006Rating: N/A
Votes: 0
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| | Sunday, October 12, 2008 - 12:57 pm: |
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Bold soldiers could speculate a bounce off the $39 support line.
Old soldiers (like me) would caution that banks are to be avoided for the time being. Health and strong gold producers look like the safest places to shelter from the dust storm.
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tryhay
Member
Username: tryhay
Post Number: 1211
Registered: 09-2005
Rating: N/A
Votes: 0
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| | Monday, November 10, 2008 - 06:13 pm: |
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All banks took a pizzling today ~ looks like CBA is a short ~ initial target $28, but could go to sub $20.
Chart: Can not find one indicator looking positive ~ must be bad IMO
Hope you are out of your long J
Happy trading DYOR
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jimmyswell
Member
Username: jimmyswell
Post Number: 276
Registered: 07-2006Rating: N/A
Votes: 0
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| | Monday, November 10, 2008 - 08:06 pm: |
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Hi Tryhay,
Yes I'm out again. I did another hit&run, in at $40 and out at $44 a week later. The last peak petered out at $42 and I haven't looked at it again.
These days, my stops are tighter than a steroid junky's gonads.
Jimmy
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pnbenson
Member
Username: pnbenson
Post Number: 1
Registered: 11-2008Rating: N/A
Votes: 0
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| | Wednesday, November 12, 2008 - 02:14 pm: |
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Hey guys, I'd like to add to your thread if I may.
I've attached the CBA chart for the last 10 years and if it closes on or near it's high, the dragonfly candlestick sitting on long term support may signal a short term reversal. $40 being first resistance. Not a bad return for a blue chip in just a few days. I picked up some at $35.95 yesterday.
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tryhay
Member
Username: tryhay
Post Number: 1213
Registered: 09-2005
Rating: N/A
Votes: 0
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| | Wednesday, November 12, 2008 - 03:18 pm: |
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Hi pnbenson,
pnbenson wrote on Wednesday, November 12, 2008 - 02:14 pm:the dragonfly candlestick sitting on long term support may signal a short term reversal.
Agreed, is a good time to apply the "Rule of Three" and have taken some profit today on the short ~~if in-fact CBA does retest support (now resistance) will be a good time to piramid in and ride the short for all it is worth... Can not see the bounce being much higher than $40.00
Unable to upload a chart ATM but above chart/s show enough details...
Happy trading DYOR
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pnbenson
Member
Username: pnbenson
Post Number: 1
Registered: 11-2008Rating: N/A
Votes: 0
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| | Thursday, November 13, 2008 - 02:21 pm: |
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Support has now dropped to $32.40, as it's moved into the next channel, as per the chart. New resistance around $37.00.
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pnbenson
Member
Username: pnbenson
Post Number: 2
Registered: 11-2008Rating: N/A
Votes: 0
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| | Friday, November 21, 2008 - 02:31 pm: |
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Looking at the 15 year history, CBA has reached the 61.8% Fib line.
Since Oct 07 it has fallen approx $33.80. It channeled between $38 and $46 before it resumed it's down trend, this being approx half way between $61.65 (Oct 07) and $27.85 where it has touched a low today.
Need confirmation of a bounce and whether $28 will hold support. opinions welcomed.
Al
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tryhay
Member
Username: tryhay
Post Number: 1222
Registered: 09-2005
Rating: N/A
Votes: 0
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| | Friday, November 21, 2008 - 08:40 pm: |
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tryhay wrote on Monday, November 10, 2008 - 06:13 pm:Can not find one indicator looking positive ~ must be bad IMO
My goodness CBA dropped >$12 in less than 2 weeks ~ I see in Oct 2007 it dropped ~ $18 in about the same time. Must be bounce time to form a consolidation zone (expect consolidation less than that immediately proceeding).
I see ultimate target at $15.00 but some resistance on the way down - as indicates in post 1211 above......
Rest of profit time, and into target rich environs (good old WBC has been a good short trade lately too)
Cheers
Happy trading DYOR
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hershy
Member
Username: hershy
Post Number: 2854
Registered: 10-2002
Rating: N/A
Votes: 0
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| | Sunday, November 29, 2009 - 12:06 pm: |
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The cost of silence ?
CBA not saying if it has exposure to Dubai.
Several other banks have come out saying they have none.
CBA had a bad day Friday, broke down below trend. Also completed a H & S setting up $46 as a target; support @ $43.40.
I've been on my cruise ship for 3 days and have not left my cabin yet. There are two doors in my cabin. One leads to the bathroom and the other has a sign on the door knob that says "Do not disturb".
http://members.optusnet.com.au/~hershy/
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