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BHP - BHP Group

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Gotcha. Let me know when you pull the trigger.

What's going on with adani?
 
over9k said:
Gotcha. Let me know when you pull the trigger.

What's going on with adani?
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Same old same old. I filled the Arnage in Bowen and I wouldn’t fancy being an activist if it came to the biff with some of the miners filling up their 4wd’s. Adani is not nice but everyone has picked a side. At least the crusties are leaving BHP to get on with what they are good at.

gg
 
Garpal Gumnut said:
BHP is one of the main exporters of coal and employer in the mines west of Mackay.

I expect March lows to occur in October and I’ll be buying BHP

gg
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Agree,

BHP is forming a classic top formation, personally I've stepped up the short delta, also expecting a decent correction, March lows IMO opinion could be a tad optimistic :).
 
i sold Sep $35 puts a few days ago. premium wasn't anything too flash (about 0.8% of the stock price) but it was decent mid-30s vol and quick decay. the depths of the crisis notwithstanding, $35 seems to have been a decent resistance turned support level looking back to mid 2018 or so. got called away at that level a few months ago after repeated covered call selling over the position i'd originally taken on to strip the mar dividend. wouldn't mind having them put back to me at $35.
 
Iron ore up
1606973605573.png


and BHP doing well, happy holder and closing in on 52wk high

1606973637172.png
 
Boggo said:
The W.3 moved after this post...
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@Boggo that is interesting that the W3 moved, I will have to have look at the bar replay to get a better idea.

Boggo said:
Just wondering what you are seeing on the weekly with that new software in the action since last March ?
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Not much unfortunately as I have had to go to work and unable to have a play whilst onsite (I need to bite the bullet and get a second install). Hopefully by the end of the year I should be able to drive it but with my 'L' plates on.

Cheers

Trav
 
Trav. said:
Not much unfortunately as I have had to go to work and unable to have a play whilst onsite (I need to bite the bullet and get a second install). Hopefully by the end of the year I should be able to drive it but with my 'L' plates on.

Cheers
Trav
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All good.

BHP will be interesting to watch from here onwards.
It could be shaping up as a W.3 but I really would have liked to see the W.2 retrace more than it has so i'm cautious.

Cheers.
 
Boggo said:
BHP will be interesting to watch from here onwards.
It could be shaping up as a W.3 but I really would have liked to see the W.2 retrace more than it has so i'm cautious.
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@Trav. Thinking we may have a W.3 happening based on today's upward resumption after a few weeks of hesitation ?

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BHP Weekly 040121.png
 
@Boggo your post had some uncanny timing as I just received notification that I had purchased some more shares through the work share purchase plan and said to myself not good timing buying at the peak

The share prices obtained on 29 December 2020 were:
ASX: AUD 42.97

So let's hope that the W3 does eventuate ;)
 
@Boggo the one thing that I have doubts on when plotting such wave patterns is for example BHP has a ATH of $44.34 in 2008.

We are looking for a wave 3 to extend into this area +$48 area

My chart came up with a possible ABC with lower typical zones.

What are your thoughts on the different options? :confused:

1609810586038.png
 
Trav. said:
@Boggo the one thing that I have doubts on when plotting such wave patterns is for example BHP has a ATH of $44.34 in 2008.

We are looking for a wave 3 to extend into this area +$48 area

My chart came up with a possible ABC with lower typical zones.

What are your thoughts on the different options? :confused:
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Yes, been watching that hesitation in the min W.C area.
Just my own way of looking at it is because it hasn't pulled back from that min W.C area of hesitation and has now started to move (albeit just one day atm) I have shifted from W.C to a likely W.3 or at least a typical W.C.

Time will tell if I am on the right track, too easy to say so after the event so chart and predict it as it plays out :cautious:
 
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@Boggo yes fair enough mate. Just another piece of the puzzle.

Does
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use the DLB Oscillators as well ? If so any preferences. ?

I like to use the DT oscillator but only found out the other day that I was interpreting the shading incorrectly. It pays to actually read the description instead of assuming the intent. as we know what happens when we ASSume :asshat:

1609812622687.png


In this Example with BHP it appear that the lower indicator is a little closer to predicting the pivots.

1609812784321.png
 
Trav. said:
@Boggo yes fair enough mate. Just another piece of the puzzle.

Does View attachment 117773 use the DLB Oscillators as well ? If so any preferences. ?
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I don't really use much in the way of indicators, just my MACD on the default chart in Amibroker.
I went berserk with indicators years ago in the Metastock days but now I tend to think that you have to adjust the parameters based on the past to match each individual stock.

The generic MACD in Ami tends to give me a trend guide. The parameters were optimised years ago to suit the weekly on the All Ords, I should review them.

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BHP W MACD 040121.png
 
and BHP put on 6% today. Hard to say if it is an all time high, as so many corporate actions (OneSteel, BlueScope, Magma, Billiton in, Billiton out, etc) but the 30 year chart looks good

Resources Boom 1.0 up to 2008 gave it firepower. And China from 2016 has saved it.

1610002400527.png
 
With oil prices returning to recent year averages, iron ore at near record highs, and base metals prices set to increase further on strong demand, it was inevitable that the big Australian would bust through $50 this year.
JRorrpa9.png


Here's BHP's chart over the past year - a few wobbles, but still within its trend channel, so more upside possible:
2B3ewG5Q.png
 

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The big one is the resolution copper mine co-owned with RIO.

Cars are about to have a massive copper component percentage on account of electric motors & wires ;)

I own both, FMG too.
 
over9k said:
The big one is the resolution copper mine co-owned with RIO.

Cars are about to have a massive copper component percentage on account of electric motors & wires ;)

I own both, FMG too.
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Optimistically the Resolute project might have ore to the surface in 10 years time
Then, whenever it is finally ramped up, its massive scale will put a lid on copper price upside.
I am not sure I want to celebrate my 80 birthday next week!
 
I've bought as a dividend/long term play and I'm nearly 50 years younger than you so I'll be fine :p
 
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