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BHP - BHP Group

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personally think it looks like a prime short with a nice low % loss on stopout point


oops speaking aloud again

crashnburn ya sucka! :)
 
BHP has formed a very good Head and Shoulders Bottom over the past 3 months. I'll be getting on board on a break of 32.00
 
:D crashnburn i say :D

but yeah if they closed abouve 32 20 ish and above i,d be out with a small loss and tail between legs
 
I took a small loss when it looked like closing back below 31.70, it hasn't closed above 31.70 for nearly three months now.

Today's close is significant ??

I thought it was going to hold above 31.95 on the 1, 5 and 15 minute charts, I shouldn't be looking at these timeframes.

Yesterday's daily.
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Boggo said:
I took a small loss when it looked like closing back below 31.70, it hasn't closed above 31.70 for nearly three months now.

Today's close is significant ??

I thought it was going to hold above 31.95 on the 1, 5 and 15 minute charts, I shouldn't be looking at these timeframes.

Yesterday's daily.
(click to expand)
Click to expand...

There was a bit more volume today but a poor close but possible mediocre demand.

Opinion only. Do your research.
 
It's certainly bouncing against the ceiling. I'd love to see it close above $32.00.

I'm in the money so far but have set pretty tight stop losses to protect the gain.
 
its making hard work breaking away from 32. rio's fired away, bhp seems held by a bungy to it.
seems it will do similar volume to yesterday. 10millish.
 
shag said:
its making hard work breaking away from 32. rio's fired away, bhp seems held by a bungy to it.
seems it will do similar volume to yesterday. 10millish.
Click to expand...

BHP is down 4% in London tonight, I doubt on recent ASX volumes it will stay above $32 in the short term tomorrow and Friday.

I'm still bearish on this for that reason and as posted in above charts, in the medium term.

gg
 
i got stopped out of short when it broke , spewin now , but hey better to be safe than sorry , and murphy dictates if i,d kept position open it would have risen 4 % tonight instead
 
According to the Business Spectator:

"SHANGHAI - Chinese steel firms joined Japanese counterparts in demanding price cuts of around 40 per cent for term iron in 2009, as mills look to cut costs amid faltering demand and huge cutbacks in output.

Asian steelmakers are calling for the first cut in annual iron ore prices in seven years as they struggle with steel prices that have tumbled since late last year, as the global economy stagnates in the grip of a worsening financial crisis.

"The bottom line for Chinese steel mills is for iron ore prices to drop to the levels between 2007 and 2008, meaning Brazilian miners must cut ... by at least 39 per cent and their Australian counterparts by at least 45 per cent," the Shanghai Securities News newspaper quoted unnamed industry sources as saying.

The China Iron and Steel Association declined to comment, while analysts predicted that, while ore prices seemed certain to drop sharply, steelmakers could struggle to force through cuts of that magnitude.

Asian steelmakers agreed to close to a doubling of iron ore prices for the year to the end of March but are now extending production cuts amid few signs of a recovery in demand.

On Tuesday Japan's JFE Holdings, the world's third largest steelmaker, said it wanted iron ore prices in the 2009/2010 business year to fall at least back to 2007/08 levels.

Global steel output fell 19 per cent in November, the World Steel Association said. It and may fall further in December and January as South Korea's POSCO considers more cuts and JFE scales back further by becoming the first Japanese firm to shut a blast furnace.

Mini rally

Iron ore major BHP Billiton and Rio Tinto declined to comment on the Chinese report. Spokesmen for both groups said it was company policy not to discuss price negotiations.

Rio Tinto shares in London fell 2.2 per cent to 1,692 pence while BHP lost 0.15 per cent to 1,290 pence by 1042 GMT (2142 AEDT), compared to a 2.76 per cent loss in the UK mining index, which shed 56 per cent last year.

Iron ore price negotiations informally began late last year but have stepped up, with China's steel mills likely to push for an early settlement.

"It's early days and they're probably being opportunistic on the back of the iron ore price weakness pre-Christmas," said James Wilson, an analyst at DJ Carmichael.

"They're trying to lock in prices while they can but I think they will find they won't be able to do that. I don't see a 45 per cent reduction happening."

Analyst Andrew Keen at Bernstein Research in London agreed the fall in iron ore prices would be less than expected.

"We believe contract prices are likely to surprise on the upside ... We are expecting a 35 per cent decline in Australian iron ore fines and believe that the market is pricing in a decline approaching 50 per cent," he said in a note this week.

Spot iron ore prices plunged 70 per cent from highs of nearly $US200 per tonne last February to $US60 a tonne in October, but have since recovered to about $US80 a tonne.

The recovery comes as production from China, the world's biggest steel producing country, crept up in recent months from more than two-year lows in November as some mills raised operating rates to ride a mini rally in steel prices.

Asian steel prices rose 13 per cent from a two-year low in late November, as coordinated output cuts globally tightened market conditions and forced buyers with low inventories to accept price hikes by some producers.

But the tentative recovery in prices may end soon as key buyers, such as automakers, rein in production.

"So far, what is absent is a significant recovery in end-use steel consumption," said Jim Lennon at Macquarie in a note to clients.

Goldman Sachs JBWere analyst Malcolm Southwood in a research report this week forecast a 30 per cent fall in steel prices. ''
 
Doesn't seem that long ago (this company was one of them) that somebody came up with the phrase

"cant go wrong with the Blue chips" wonder what they are thinking now?

Just feel sorry for the amount of people who lose jobs IF things like this happen...
 
Should do better than the likes of Rio. Rio are dogged with debt.
BHP on the other hand have relatively low debt and are much better positioned on the acquisition path while others capitulate. Even if they unfortunately have to mothball Ravensthorpe. JMO!

DYOR
 
A lot of press reporting that BHP will post a decline in profit of arounf 10-15%. Mainly becasue BHP have provided no guidance and pinted to the report as the medium for profit statements etc.

My question is, how much of this decline in profits has been priced in already?


No one expected BHP to post a higher profit level this time imo so am wondering what level of profit decline would inspire a SP decline/ ascent?
 
TheAbyss said:
A lot of press reporting that BHP will post a decline in profit of arounf 10-15%.
Click to expand...

Does anyone think that BHP's timing of this report which is due out tomorrow was planned to coincide with Obama's inauguration? Either way, does anyone think that the potential bad news will be offset some if any due to this?
 
S73417H said:
Does anyone think that BHP's timing of this report which is due out tomorrow was planned to coincide with Obama's inauguration? Either way, does anyone think that the potential bad news will be offset some if any due to this?
Click to expand...
LOL, and perhaps the 'Obama factor' is factored in. Could be a sell the fact event. Overall market's on a knife's edge right now, eeeeek! :2twocents
 
Closed lower today on the FTSE and the DOW's not looking too sexy at the moment even after Obama's inauguration.
 
Anyone know what time the release is for the December-quarter production report.

Cannot see the time stated anywhere other than today
 
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