Australian (ASX) Stock Market Forum

BHP - BHP Group

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I'd wait another day, or two. The down percentages today seem to be more than just a profit take day. Bottom picks on a correction are best on the 2nd or 3rd day.

Then again I believe their's :eek: still some oomph in the commodities and am happy to get my fingers dirty :eek:
 
There's some amazing trades in BHP going through. Parcels between 5,000 and 20,000 flying in. :eek: Or out. :confused:
 
justjohn said:
No thanx Kennas , not just yet i dont think it has finished yet :p:
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at the end of the day if it goes down again tomorrw ill buy some more...i almost want it to come back so i can back the truck up!!
 
spitrader1 said:
at the end of the day if it goes down again tomorrw ill buy some more...i almost want it to come back so i can back the truck up!!
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There will be a good opportunity here. If you still believe in the Chindiapanaiwanporeasia story. Oh, and Russazil.
 
kennas said:
There's some amazing trades in BHP going through. Parcels between 5,000 and 20,000 flying in. :eek: Or out. :confused:
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You can control 5000 BHP shares with 5% CFD's for between $6000 to $7000.. :eek:
 
spitrader1 said:
at the end of the day if it goes down again tomorrw ill buy some more...i almost want it to come back so i can back the truck up!!
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This so-called truck i hope your not leasing it from the CHICKEN because i think you will find it full of SBM :eek:
 
haha,
I just bought back at 26.76 after shorting it this morning at 27.28. Not sure what direction its gonna go tomorrow, but probably up cos it went up slightly just before the market closed.
 
imaginator said:
haha,
I just bought back at 26.76 after shorting it this morning at 27.28. Not sure what direction its gonna go tomorrow, but probably up cos it went up slightly just before the market closed.
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im not sure thats a reason for the stock to rally tonight. My prediction is lower to slightly lower which will be great to get back in again. I didnt want to take the risk that it bounces hard and i miss stock today so i dipped the toe in..
 
I also jumped out today, although was only holding a light parcel. Just don't like the momentum of the markets at the moment. DOW massively high, Real Estate broken, massive public debt: Just think the economy will slow quicker than they like. Still I think another interest rate rise would be financially responsible to hold the dollar value. On the other hand, the ASX 200 is struggling to move to its new highs, has broken through a 6 month upward trendline, interest rates up, talk of more, world turmoil, high gas prices, don't think its a time to accumulate yet, IMO... I have dumped all but Gold and Oil, and am not a doom and gloom guy, but, I'm short on the ASX 200, and maybe for 250 points. Just not as comfy as I would like, and want to protect my capital, and stay in the game for the big run up to 2008 China Olympics.

"Is this the start of the pullback we have to have?"

With all due respect of course... Cheers :rolleyes:
 
Gundini said:
I also jumped out today, although was only holding a light parcel. Just don't like the momentum of the markets at the moment. DOW massively high, Real Estate broken, massive public debt: Just think the economy will slow quicker than they like. Still I think another interest rate rise would be financially responsible to hold the dollar value. On the other hand, the ASX 200 is struggling to move to its new highs, has broken through a 6 month upward trendline, interest rates up, talk of more, world turmoil, high gas prices, don't think its a time to accumulate yet, IMO... I have dumped all but Gold and Oil, and am not a doom and gloom guy, but, I'm short on the ASX 200, and maybe for 250 points. Just not as comfy as I would like, and want to protect my capital, and stay in the game for the big run up to 2008 China Olympics.


Has BHP reached highs since May, Nope and considering their commodities/business in which they trade, it just dosen't add up. BHP has basically been sideways for 6 months.
Personally I think we will see a shorted lived profit take this time around on the midcaps, with the BHP's and RIO's coming out of the blocks leading the way for the Xmas run.
Their has been no commodities crash since June and BHP's current SP just dosen't stack up, reality has to come to the fore at some point. :confused:
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Freeballinginawetsuit said:
Has BHP reached highs since May, Nope and considering their commodities/business in which they trade, it just dosen't add up. BHP has basically been sideways for 6 months.
Personally I think we will see a shorted lived profit take this time around on the midcaps, with the BHP's and RIO's coming out of the blocks leading the way for the Xmas run.
Their has been no commodities crash since June and BHP's current SP just dosen't stack up, reality has to come to the fore at some point. :confused:
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Agree. Quite a lot of froth in that SP.

The selling today probably has a lot to do with the technical breakdown in copper and this commodity will be a good leading indicator for BHP IMO.

FWIW

BHP has been a nice story for ma & pop investors, but it's time to move on IMO. Not to say it can't be traded for decent profit, but make friends with the bears, there money in the downside... again IMO.
 
Has BHP reached highs since May, Nope and considering their commodities/business in which they trade, it just dosen't add up. BHP has basically been sideways for 6 months.
Personally I think we will see a shorted lived profit take this time around on the midcaps, with the BHP's and RIO's coming out of the blocks leading the way for the Xmas run.
Their has been no commodities crash since June and BHP's current SP just dosen't stack up, reality has to come to the fore at some point.

Hi Freeballing, hey, the fundies are great with the stock, no doubting the biggest miner on the planet, but it has been in a downtrend since May, and if you draw some trend lines, it is possible for it to revisit the $24 level if materials pullback. The Daily MACD looks a shocker, and the Daily Materials Sector MACD looks just as bad. I recon if it busts $26.64, it has futher to go, taking into account my post above. No doubting the stock will then gain momentum for the run through $32 early next year.

All due respect, cheers :)

PS, sorry, but not sure how to add charts yet, my program doesnt allow cut and paste
 
A quick look at the chart tells me BHP ran into time resistance, last leg was 360 days into $32 high, running out 180 days from there...
 
rosie said:
A quick look at the chart tells me BHP ran into time resistance, last leg was 360 days into $32 high, running out 180 days from there...
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What is time resistance Rosie?
 
Same as price resistance, only using time instead, when you combine the two you have what is called time & price, some ignore it some use it.
 
Freeballinginawetsuit said:
BHP is underpriced and a bargain ATM.
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Bargain:

I suggest this term is seriously misused, overused and consequently cliche'd, as far as the market is concerned.

Unless the purchase can be immediately arbitraged for a profit, there are no bargains amongst the blue chips.
 
rosie said:
Same as price resistance, only using time instead, when you combine the two you have what is called time & price, some ignore it some use it.
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Rosie,

For the benefit of us that don't get this time and price thing. Using BHP as an example, how would one calculate time resistance? What is being resisted?

Cheers
 
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