BHP - BHP Group

[nunthewiser]

PERSONALLY starting to look towards the SHORT side again (last one smacked me in the chops)............. not entered as yet but watching like a hawk

but for a few of my latest calls on the forums one would be prolly better off going the opposite way

 

[Smashing]

I got in at 25.590 had some extra cash at the time only wish I had got more.

Been watching this thread being a noob in the stock market game I don't understand all of what has been said but it has been good reading, Thanks for all the charts btw.

 

[M34N]

PERSONALLY starting to look towards the SHORT side again (last one smacked me in the chops)............. not entered as yet but watching like a hawk

but for a few of my latest calls on the forums one would be prolly better off going the opposite way

Hope you shorted nice and early today on this one, nun. Maybe time for a few days down before the last gasp up?

As you say mate, bless'em.

 

[Hank Moody]

yeah i am looking at shorting this on monday..... it seems to have had a nice trend of 28 - 32 over the past few months. I think this break through will be short lived dropping back down to $30 mark, however after that if it can through the $34 mark again i think it will begin a new range of $32 - $36

 

[MaverickTrader]

I'm thinking BHP might be my first buy. I'll watch closely over the next few weeks and hopefully get on at the right time

 

[M34N]

yeah i am looking at shorting this on monday..... it seems to have had a nice trend of 28 - 32 over the past few months. I think this break through will be short lived dropping back down to $30 mark, however after that if it can through the $34 mark again i think it will begin a new range of $32 - $36

Agree, will look to close short quick on this since the markets turn quickly and there is a lot of support for stocks like BHP when things turn positive. Looking at an exit at around $32 at the very least, but expecting a drop to around $30-31 and support to hold there for this down leg. Depends on the volume/price movements and watching US futures closely in case some miraculous bailout of GM/Chrysler eventuates and there's a sharp rally up.

More than happy to go long as soon as the tide turns... just following the masses still.

 

[Hank Moody]

Agree, will look to close short quick on this since the markets turn quickly and there is a lot of support for stocks like BHP when things turn positive. Looking at an exit at around $32 at the very least, but expecting a drop to around $30-31 and support to hold there for this down leg. Depends on the volume/price movements and watching US futures closely in case some miraculous bailout of GM/Chrysler eventuates and there's a sharp rally up.

More than happy to go long as soon as the tide turns... just following the masses still.

Rumors are floating of another RIO bid, not sure how this will affect the price though........

I am concerned though as you said, BHP is one of those stocks people rally behind when the market gets good news and turns up.

Am starting to worry that my target price of $31 might be a bit to optimistic

 

[M34N]

Well I just closed my short before at $32.10 for a $2.00 gain, something funny-buggers is going on and I suspect the US markets are going to rally tonight, may be some news coming out about GM or something providing a boost for the markets so not interested in holding and to get stopped out much higher.

A lot of other resource stocks pulling higher, signals to me a turn higher tomorrow.

 

[nunthewiser]

Iron ore miners 'agree to 40% price cut'
31st March 2009, 15:10 WST

Rio Tinto Ltd and BHP Billiton Ltd have reportedly agreed to a temporary 40 per cent cut to iron ore prices, China's steel mills say.

The China Iron and Steel Association (CISA) said reduced prices would be in place until a formal benchmark deal was done, according to a Merrill Lynch report.

The current benchmark price of about $US92 per tonne for iron ore fines and $US129 for iron ore lump was negotiated when prices were at historic highs, but ends for many contracts this week.

Steelmakers typically continue paying last year's prices until the new benchmark rate is settled but have reportedly asked that a lower temporary rate be established.

The iron ore price is traditionally negotiated between steel makers and the three largest iron ore producers - Brazil's Vale, Rio Tinto and BHP Billiton.

"We think it is possible that a temporary price deal has been done between the iron ore majors and China's steel mills," Merrill Lynch analysts led by Tom Price said in a note to clients.

Spokesmen at both BHP Billiton and Rio Tinto refused to comment on the price negotiations while they were ongoing.

Demand for iron ore has fallen steeply in recent times, after steel production rates dropped between 30 and 50 per cent in key markets as the global economic crisis took hold.

The Merrill Lynch report said BHP Billiton is likely to set the final benchmark deal, with Brazil's iron ore giant Vale taking a back seat in the talks.

Rio Tinto may also stay out of the talks while it develops a corporate relationship with consumers, the report said.

Chinese steelmakers are the world's largest buyers of iron ore.

AAP

i did have a gloat post earlier but it was a worthless adition to this thread and was removed

fair enough , it was just a gloat after all

however . this one not so worthless


ANYONE . ......... anyone consider the ramifications of these price negotatiations on BHP bottom line seeing as they already got there profit hammered on last report and THAT was on boomtime prices ??

do people still regard BHP as an investment stock at these levels?

Not intrested in trade ideas as already got my own , mainly tryting to guage ppl,s confidence in this stock as a blue chip investment

 

[wonderrman]

I sold my piece at 34.4. Chart attached, most likely a part of a large push up but I would like to play it safe in these bitchy markets.

wonder.

Not intrested in trade ideas as already got my own , mainly tryting to guage ppl,s confidence in this stock as a blue chip investment

Sorry didn't see your edit until I posted. cheers.

 

[nikemi]

i did have a gloat post earlier but it was a worthless adition to this thread and was removed

fair enough , it was just a gloat after all

however . this one not so worthless


ANYONE . ......... anyone consider the ramifications of these price negotatiations on BHP bottom line seeing as they already got there profit hammered on last report and THAT was on boomtime prices ??

do people still regard BHP as an investment stock at these levels?

Not intrested in trade ideas as already got my own , mainly tryting to guage ppl,s confidence in this stock as a blue chip investment

I have considered BHP overpriced since it jumped above $25.

Not sure how many people realise that a price reduction of 40% requires future increase of 66.67% to only get back where it started ....

 

[S73417H]

I too believe that BHP is currently over priced. I'm more confident that it will test the $25 mark once again rather than continue it's upward trend. Can't see it hitting $20 but hey, anything is possible.

 

[Sean K]

I sold my piece at 34.4. Chart attached, most likely a part of a large push up but I would like to play it safe in these bitchy markets.

Was a good move at the time. Failed on queue, again. Did you change it for a short?

Going though again, intraday, but I must say, I have no confidence in it keeping above the $34 line, it's disappouinted again and again around this level.

Anyway, I'm waiting to see how it goes here. Breaking through this level may be quite significant I think.

 

[wonderrman]

Was a good move at the time. Failed on queue, again. Did you change it for a short?

Going though again, intraday, but I must say, I have no confidence in it keeping above the $34 line, it's disappouinted again and again around this level.

Anyway, I'm waiting to see how it goes here. Breaking through this level may be quite significant I think.

Gday didn't switch it for a short just got out with the nice profit. She's been in this trading range for a while so any breakout above the resistence would send it alot higher you would think. We'll see how it goes, if he heads back to the $29 mark again and turns up I'll probably get my toes wet. cheers.

 

[outback]

It took a few attemps to get through $32.00, it appears to be the same for the $34.00 level. I took the profit, and am waiting for a retreat to something closer to $30.00, then in again for the next push up.

 

[wonderrman]

BHP chart looking pretty good again for a break of $34.

Chart enclosed, next significant resistence line is ~$40.

wonder.

 

[nikemi]

BHP chart looking pretty good again for a break of $34.

Chart enclosed, next significant resistence line is ~$40.

wonder.

Just curious why would you say it looks good, with a lower top and a lower bottom?! Can you please provide some analysis

 

[nunthewiser]

LOL personally hope not as still shorting this sucka .........


i saw in one of those chart book thingo,s that perhaps its latest pattern maybe known as a crown top thingo , or something also , but i wouldnt listen to me on it as i dont know the lingo

 

[Sean K]

Nun, this short is looking ordinary, have you covered, or what?

Chart wise, this looks like long term material, until it breaks back down.

Like RIO at $30 ish, and BHP at $20 ish, what AWESOME short term opportunities!!!!!

 

[nunthewiser]

Nun, this short is looking ordinary, have you covered, or what?

Chart wise, this looks like long term material, until it breaks back down.

Like RIO at $30 ish, and BHP at $20 ish, what AWESOME short term opportunities!!!!!

yes its been a rather ordinary trade so far , definately not lighting the skies as yet ......still in trade........ lol my view on bhp is the latter of your statement and PERSONALLY expecting a major break downwarrds

cheers