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BHP - BHP Group

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it was $28 2 days a go.... before dropping 4% to where it is now.

Was the run from $24 to $28 in the past month to fast.... that would have made a fair few people take profits

the faster it goes up the faster it comes down.
 
Ken said:
it was $28 2 days a go.... before dropping 4% to where it is now.

Was the run from $24 to $28 in the past month to fast.... that would have made a fair few people take profits

the faster it goes up the faster it comes down.
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Yes, faster, faster...agree.

$28.00 was never really 'broken' though. Spent some time above and just once overnight I think. Needs to clear it, and stay above for 3 days and retest it as support and continue to climb. That might be a little bit off...But I do have memories of April. :D $23.50 to $28.00+.
 
guys the only support i see is possibly $26.00.
Do u think its gonna fall lower than that?

I think perhaps, since the All Ords is a bit shaky these few days.
I do feel the market is overheated and its time it plunge like in mid September,

what do u think?
 
imaginator said:
guys the only support i see is possibly $26.00.
Do u think its gonna fall lower than that?

I think perhaps, since the All Ords is a bit shaky these few days.
I do feel the market is overheated and its time it plunge like in mid September,

what do u think?
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Yep, then $24.00. :(
 
Let it drop until payday... then I will be in! This is still rated a buy/strong buy and predicted to be well above $30 for a 12mth target. Hold and relax surely? Actually the call options for middle of next year are looking more attractive the lower the sp goes. $30 opts for Jun 07 were $1.70-1.80 only a couple of weeks ago and are now $1.30.
 
the market does feel like its overheated.

For bhp and rio to kick on past $30 does there need to be a shift in stocks the big fish are holding .

Changing from the banks, and other defensive stocks, into the resource sector again, or is it just a matter of resources stocks bouncing like they have been of late

bhp is still undervalued to me.
 
It has BEGUN!!

Baosteel is expected to be in talks with miners including Australia's BHP Billiton Ltd. (BHP), Rio Tinto PLC (RTP), and Companhia Vale do Rio Doce (RIO), or CVRD, of Brazil. BHP, Rio Tinto and CVRD account for a combined 70% of global iron ore export sales.

In June, China's steel producers accepted a 19% increase in iron ore prices for 2006, which followed a 71.5% hike for 2005.

China will be closely monitoring the iron ore price negotiations between Chinese steel producers and international miners, the China Securities Journal Wednesday quoted Xiong Bilin, an official at the National Development and Reform Commission, or NDRC, as saying. NDRC is China's top economic planning agency.

In January-to-September, China imported 247.13 million metric tons of iron ore, up 24% on year, while domestic production totaled 405.82 million tons, 38% higher.
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marklar said:
I took profit from ARR and got me some BHP yesterday.

m.
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I did similar thing back in APril for $29, still waiting for a profit so I can unload them, BHP's like money in the bank, a safe place when the going get's tough. :( Wish I hadn't of cause but can't lose in the long run.
 
imaginator said:
what do u mean payday? when is ex-d for bhp?
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i think the most amusing thing about BHP is no one has accounted for the U bull. All the other U stocks are going through the roof, like DYL/PDN etc, but no one has even looked at hills, and they are sitting there with olympic dam!! spot price released on wednesday at 62.50, up another 4% WOW
 
spitrader1 said:
i think the most amusing thing about BHP is no one has accounted for the U bull. All the other U stocks are going through the roof, like DYL/PDN etc, but no one has even looked at hills, and they are sitting there with olympic dam!! spot price released on wednesday at 62.50, up another 4% WOW
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WMC hedged uranium the way ERA did, so all output from olympic dam up until 2008 is hedged and sold at prices well below spot (think us$15-20/lb).
 
Kauri said:
14/11/06 And on the daily charts I would rate it as a cautious buy :D , would feel better if it moves strongly up through the $28.40 area.. looking for $34-$36..
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Not so cautious now, another good positive vol/higher close day on Mon and I will be on.
 

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Kauri said:
Not so cautious now, another good positive vol/higher close day on Mon and I will be on.
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Kauri
I reckon your suggested lines of attack are on the money.
Unfortunately I don't think BHP is going to take off until oil takes off again.
Although I reckon that's a matter of only months away, and present price of BHP is only the odd dollar off probable medium term low.
If you work on the basis of a buy at $26 and a target of only $32 next year, that's still almost a 25% profit (and there will be a small div between times).
at the moment the iron ore price negotiations are still looking at a small (say 10%) increase over present prices. If that is the case BHP will have to do something with its excess cash a bit more meaningful.
I reckon there are some folk avoiding BHP on the basis it is just not giving enough back - it's a lot to outlay just to be on a "growth" stock.
 
well maybe the $30+ broking target prices know something we dont....

special dividend? increased dividend?
 
rederob said:
Unfortunately I don't think BHP is going to take off until oil takes off again.
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I agree.
The Yanks in particular view BHP as almost solely an oil business, and thus it trades there accordingly.
Another big earner for BHP is copper. Their sensitivity to the copper price is $20million in NPAT bottom line for every 1cent movement in price. Dont get me wrong - olympic dam was profitable at 70c/lb - but the fact that spot copper is taking a beating means BHP will suffer.
But as a long term hold, i can think of very few better stocks.
 
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