Monday, June 15, 2009

Trade 10 setup: CBA breakout



bought 100 CBA on the breakout that happened on the news that CBA had raised its mortgage rates - 38.15.

Have stop at 37.97 - really tight, with target of about 38.15.

On a day where the market seems to be down overall - financials are defying the trend. I'm thinking the next bank with enough greed to follow CBA is NAB, which I'll consider picking up if CBA keeps trending higher in the next few days.