Australian (ASX) Stock Market Forum

BHP - BHP Group

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my personal view would be bearish on this stock, but its hard to analysis the support on this one, looks like $31.20 is support?
 
for what its worth ...... i have closed original 33.10 entry on BHP short . leaving the other 2 parcel entrys to ride .

my first 33.10 entry was not a smart entry and happy to be shod of it .
 
Im going short on BHP once it closes below $32.

I feel we are going to see some sustained profit taking across all stocks given the performance of the market so far this week.
 
investorpaul said:
Im going short on BHP once it closes below $32.

I feel we are going to see some sustained profit taking across all stocks given the performance of the market so far this week.
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dont get me wrong im still short at present and holding at a 34.95 average , but i like to call it 35 as it sounds better :D.. just wanted to get out of one parcel that was annoying me and been dragging things down .
personally think maybe it even due for a minor bounce shortly and will maybe add to position IF it happens


crashnburn BHP for tossa nuns i say:D
 
M34N said:
Hope you shorted nice and early today on this one, nun. Maybe time for a few days down before the last gasp up?
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That gasp lasted for much longer than I expected, but it seems to be over for now anyway.

Well done as usual nun, always picking the turn of the tide. Expecting a sharp short rebound now? I think a lot of confidence has been shot out of the market over the past few days so I agree with adding to shorts at any sign of a weak rebound... I personally wouldn't be surprised to see $28-26 target range hit in the next couple months.

Only long on NCM right now, looking at gold to outperform but not putting the house on it.
 
nunthewiser said:
dont get me wrong im still short at present and holding at a 34.95 average , but i like to call it 35 as it sounds better :D.. just wanted to get out of one parcel that was annoying me and been dragging things down .
personally think maybe it even due for a minor bounce shortly and will maybe add to position IF it happens


crashnburn BHP for tossa nuns i say:D
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Do you risk a certain % of your capital per trade nun? With your exiting of 1 parcel, does this mean you brought say 3 lots at $34.95, exited one yesterday and will remain to hold the other 2 or did you divide your original parcel say into 1/3's and sell 1/3 yesterday?

Cheers John.

(Edit - I see you purchased @ 33.10 so there was an averaging into your $34.95 average price?)
 
johnnyg said:
Do you risk a certain % of your capital per trade nun? With your exiting of 1 parcel, does this mean you brought say 3 lots at $34.95, exited one yesterday and will remain to hold the other 2 or did you divide your original parcel say into 1/3's and sell 1/3 yesterday?

Cheers John.

(Edit - I see you purchased @ 33.10 so there was an averaging into your $34.95 average price?)
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on this trade BECAUSE of my original first entry at 33.10 i risked 6% of my TRADING capital , not overall capital .TRADING capital .before anyone replys saying blah blah blah do this do that , i was fully aware of the larger than normal risk loss , was my own fault through hasty entry and fighting a strong trend, not a normal practise exposing that much capital.

overall my entrys were at 33.10,34.45, 35.50 and was happy to drop the first parcel yesty at a small win

i often phase in over various prices on trades as im not one of these folks that can pick the exact tops and bottoms but can get it fairly close usually

often phase out my exits also
 
Thanks for the reply nun, I wont be telling you how to trade your money. Was just curious on your entry. Will you be moving stops to B/E now for the other 2 parcels?
 
johnnyg said:
Thanks for the reply nun, I wont be telling you how to trade your money. Was just curious on your entry. Will you be moving stops to B/E now for the other 2 parcels?
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no worries ..... nope 34 ish will see me out , and locking in a win , then will redo it all again OR assess the situation around 35 ish up .......

with the benefit of hindsight trading i coulda covered yesty and rentered later tho :D.... gunna get me a hindsight crystal ball one day
 
So BHP is bouncing around a bit, but gaining new supports as it trends upward. Maybe a drop on Monday to test the support again. I'm looking to make another entry at $33 if it heads that way.


bhp.jpg
 
Tukker said:
So BHP is bouncing around a bit, but gaining new supports as it trends upward. Maybe a drop on Monday to test the support again. I'm looking to make another entry at $33 if it heads that way.


bhp.jpg
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Alternatively, it looks like a triangle formed over the past two weeks - this has now been broken out of, at least so far today. Don't reckon it will test $33 again for a while IMO.
 
The chart suggests that BHP will remain a bullish long side trade on an upside breakout of the wedge and a bearish short side trade on a downside break. Could go either way. A nice one to watch develop.
 

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BHP looks bullish on an upside breakout and bearish on a downside break. Has to go one way or the other soon. Nice one to sit back and watch develop.
 

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I thought $34 was a change of the tide, and it's taken some time for that to be supported, but it looks to be.

But, who is to say?

:confused:
 

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BHP is current making a rising wedge pattern........blue sky territory kicks in above $36.30.

Thanks
 

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:D he he he


um .guess what

silly ole nun jumped back on BHP short today at 3658 ........now where did i put that stoploss button ?
 
nunthewiser said:
:D he he he


um .guess what

silly ole nun jumped back on BHP short today at 3658 ........now where did i put that stoploss button ?
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Good luck!

Hm, well, actually, I just doubled my holdings in it. Holding above $34 just looks too good to me.

So, :p:

Will fall over now of course.
 
kennas said:
Good luck!

Hm, well, actually, I just doubled my holdings in it. Holding above $34 just looks too good to me.

So, :p:

Will fall over now of course.
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good luck with it m8

my entry just a low % loss entry on stopout point ......... thats all ....... i do have a strange facination for this BHP channel , one day it may even bust out of it properly and that will be the end of my bread and butter on this one
 
Hooly dooly!!!!!!!! :eek:

Will the government allow this?

Bad news for the juniors maybe. Or, maybe not. :confused:

Press release

Rio Tinto and BHP Billiton announce West Australian Iron Ore Production Joint Venture
5 June 2009

Rio Tinto and BHP Billiton today signed a non-binding agreement to establish a production joint venture covering the entirety of both companies’ Western Australian iron ore assets. The joint venture will encompass all current and future Western Australian iron ore assets and liabilities and will be owned 50:50 by BHP Billiton and Rio Tinto.

The joint venture is expected to unlock significant value from the companies’ overlapping, world-class resources. Both companies believe the net present value of these unique production and development synergies will be in excess of US$10 billion (100 per cent basis). These substantial synergies are anticipated to come from:

• Combining adjacent mines into single operations;
• Reducing costs through shorter rail hauls and more efficient allocations of port capacity;
• Blending opportunities which will maximise product recovery and provide further operating efficiencies;
• Optimising future growth opportunities through the development of consolidated, larger and more capital efficient expansion projects;
• Combining the management, procurement and general overhead activities into a single entity.
 
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