charting bhp, page-38

Hi Mongo good call at 34.16, but rather than looking at resistance being the ultimate buy in point, think what high are you going to reach if the share in the present 3 week period is still in a downward high and lower lows seem to be comming consistantly now. Not worthwhile profit.

What i mean is this pattern of at the end of the day like today big dumps occur, that is obvious, so therefore the dayers are having a multitude effect on BHP. No confidence in the highs just jumpiness.

Also Iron ore prices were the obvious catalyst in the run on BHP in DEC to Jan, plus the market overall for some reason does well in this period compared to the rest of the year.

What are the long termers doing who bought in at late December at 32.80 and sold close to 39 Dollars?

In one word waiting for the right signals of a low because they understand the longterm signals that dayers don't have in early trading careers, i have done both.

I think, a lower price with a virtual low and a sideways action will be the indicative result for BHP for the rest of the year. Unless Iron ore prices pick up, or copper becomes a wanted want.