WBC - Westpac Banking Corporation

[PLJ50L]

Hi All,

Any ideas on the freefall that WBC is taking?

cheers

 

[Caliente]

Re: Whats doing with WBC??

God I hate WBC. Held this biatch for 6 months and sold at a price that just covered my brokerage.

For me WBC stands for Wasted Bloody Capital.

 

[GreatPig]

Re: Whats doing with WBC??

Westpac has basically been going sideways all year, but is approaching its longer-term trend line. At this rate it should be there in another month or two.

Cheers,
GP

 

[TjamesX]

Re: Whats doing with WBC??

I remember seeing the CEO for Westpac being interviewed a couple of months ago. They have consciously decided not to pursue more risking lending and expansionary policies as aggressively as the others during this part of the cycle. This is directly related to some of the hurt the banks felt in the last housing boom around 89-90, theoretically this means they are better positioned for any recession to come, but they have also not enjoyed the credit boom party as much.

Either way - I'm not holding any banks in the near future

 

[dutchie]

Re: Whats doing with WBC??

WBC have announced a buy back.

They have also said that today is the last day to be entitled to the Tax advantage ($4.00 capital - rest dividend). Therefore the SP has risen by about a $1 today??

Could one assume that tomorrow, after the above deadline, that the price might fall back to its price relative to yestedays price ???

 

[happytrader]

Re: Whats doing with WBC??

Hi there

Yesterday there was a trading holt because the profit results had 'accidentally' been leaked. (Channel 9) They were due for release today.
If you check out ANZ, SGB, MBL, NAB, CBA after profit announcements 9 times out of 10 they go down because the 'good' report' has already been factored in prior to the announcement. You need to check out monthly and weekly charts to understand and see this. 'They' can then buy the share back cheaper up to exdividend time. Its a double dip thing they do. In the case of WBC they've done a bit of a sneaky. The dividend players are buying up on the 'good' report and the dividend. Do you really think they are going to 'give' you all this for free? Would not surprise me if they take the equivalent of the dividend payout back tommorrow.

Cheers
Happytrader

 

[happytrader]

Re: Whats doing with WBC??

WBC have announced a buy back.

They have also said that today is the last day to be entitled to the Tax advantage ($4.00 capital - rest dividend). Therefore the SP has risen by about a $1 today??

Could one assume that tomorrow, after the above deadline, that the price might fall back to its price relative to yestedays price ???

You're right on the money Dutchie!

Cheers
Happytrader

 

[Stan 101]

Re: Whats doing with WBC??

WBC have announced a buy back.

They have also said that today is the last day to be entitled to the Tax advantage ($4.00 capital - rest dividend). Therefore the SP has risen by about a $1 today??

Could one assume that tomorrow, after the above deadline, that the price might fall back to its price relative to yestedays price ???

Hi I've found nothing on this, can you expand on the info please.

Cheers,

 

[dutchie]

Re: Whats doing with WBC??

Stan 101, have a look at the ASX site and get the announcements made by WBC today and yesterday (theres quite a few as they made a few balls up as well).

Happytrader, I think there were a lot of people scrambling to own WBC by today to qualify for the tax advantages of the buy back. Would not be surprised if WBC opened lower tomorrow (despite 51c div.) by up to 80c.



Don't take this as advice as I'm only guessing!!!

 

[rozella]

Re: Whats doing with WBC??

Announcement attached

 

[dutchie]

Re: Whats doing with WBC??

Sure misread that one big time (WBC up 20c at moment).

Back to the drawing board for me in fundamental analysis.

An interesting little period with dividends, buy backs, deadlines, leaked information, wrong information etc all happening at the same time.

 

[happytrader]

Re: Whats doing with WBC??

Dutchie you WERE right on the money. They took back their 51c dividend. $21.67 down to $21.16. They are all as greedy as. . You've just got to second guess them knowing and looking for this. They started moving out just before lunch yesterday in the 3rd hr. Check out your hourly chart - see that gravestone doji? Always check your charts in all time frames. You'll see we have pretty much got a range for this stock now for the month. Check my post yesterday at 1.10pm. Don't worry you are getting closer all the time.

Cheers
Happytrader

 

[happytrader]

Re: Whats doing with WBC??

Dutchie you WERE right on the money. They took back their 51c dividend. $21.67 down to $21.16. They are all as greedy as. . You've just got to second guess them knowing and looking for this. They started moving out just before lunch yesterday in the 3rd hr. Check out your hourly chart - see that gravestone doji? Always check your charts in all time frames. You'll see we have pretty much got a range for this stock now for the month. Check my post yesterday at 1.10pm. Don't worry you are getting closer all the time.

Cheers
Happytrader

Judging from his posts especially that one in Crash of 05 thread today, our friend Chicken is a specialist in spotting market manipulation,greed and BS Good on you Chicken I know you've go their number.

Cheers
Happytrader

 

[dutchie]

Re: Whats doing with WBC??

HappyT, still powering on for dividend plays.

Looks like it might break out of channel (temporarily - till after 17th ??)

Could close that previous gap after that.

Still just guessing - been wrong before!!

Cheers

 

[happytrader]

Re: Whats doing with WBC??

Hi Dutchie

They can't beat you up too badly if you trade within the 21.16 - 21.67 range till exdividend time. I see Rozella's did'nt hold his Wbc stock till exdividend time - sold today - smart move. Just wait for the move. By the way Dutchie, have you checked out Anz today? I would not be 'surprised' if they were buying up today to push it up tomorrow. Remember, the pro's close the market thats why you don't get to see what that is till 4.05 - 4.09. It's all premeditated.

Disclaimer
I could be a raving looney or a greedy pig for all you know, however, it takes one to know one hehe!

Cheers
Happytrader

 

[Uncle Festivus]

Anyone have a view on WBC specifically and the banks in general? Seems to me some weakness creeping in to the big 4 lately?

 

[CanOz]

Anyone have a view on WBC specifically and the banks in general? Seems to me some weakness creeping in to the big 4 lately?

I went short on WBC just before the close yesterday.

Cheers,

 

[It's Snake Pliskin]

Anyone have a view on WBC specifically and the banks in general? Seems to me some weakness creeping in to the big 4 lately?

Naturally.

 

[rico01]

I went short on WBC just before the close yesterday.

Cheers,

I,m short by way of 40 $26 dollar puts,The dow is currently down 99 points, Ah! life is sweet

 

[adamwu]

Anyone come give me advice about currently wbc moving?

In just 3 days, it dropped about 80 cents. Have no idea what happened. Someone tell me it because old Greenspan said something, is that correct?