if this doesn't scare yer ... ???, page-18

G'day Jazzmoz,

I do agree!!!

On Friday after the close I posted a link to a 3yr BHP chart in response to JC's Chart.

When looking at the chart it is very clear that BHP is in a massive upswing or breakout mode. Look at how the Bollinger Bands are expanding outwards. This is the biggest expansion by a longway when you compare any other timeframe with BHP over the 3 years. Now, how long can it continue?

Thats the question!!!

http://bigcharts.marketwatch.com/intchart/frames/frames.asp?symb=au%3Abhp&time=&freq=

Whatever BHP does will have a major impact on the rest of our market. I believe it still has a way to go and it will be big. The biggest concern of course will be
when will the change occur?

At the moment, the major reason for the most recent spikes with basemetals is more to do with the speculators and hedgefund money pouring in.

At some stage in the not to distant future, they will of course take profits and in a big way.

Thats my guess as to when we could be in for a major correction, or selloff !!!!! It could very easily start an avalanche. If thats the case, BHP & RIO will be hard hit.

Equally, so will the markets.

I am happy to be in BHP ATM and a few specs. However, I am gearing up to take a few long Put positions over the next week or so as sooner or later something has to give. IMHO!!!!!!

Cheers markco2