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I'm wondering how many of those internationals that went short on our banks over the last 12 months have just fulfilled their own prophesy on fears regarding our possible exposure to China.  Our resources sector is obviously exposed but I don't think our banks are over exposed at all, even ANZ.

So whilst a trader would still be prudently chanting trend is a trend is a trend and that is your only friend.  Who cares if it's justified or not.  Until that ends sit tight. 

However, given our market is driven by international investment that's never got it right on our banks unless they were long long long, this sentiment that our banks are exposed to Chinea etc is all it took to take our banks to these great value levels at present and getting more valuable!  They are also making a mistake(if they can't get out in time) regarding new international laws and lending amounts leveraged to reserves and all that making it harder to turn a profit.  BS.  All our banks have to do is knock up the lending rates a few points and they are as profitable as ever. Easy.

So in short, when the trend is coming to an end, put the house, the holiday house,  the super, the ranch, the boat, the cars, and everything else on em.  Sit back for a few years sell and retire.

Maybe wait till after China is fully realized as having fallen over.