Market wisdom says that resource stocks lead the market and drop significantly 6 months ahead of a recession.
Back in 2000 BHP and the other miners dropped sharply around mid January. 3-4 months later we had the dotcom crush.
This time financials started the decline and resource stocks follow.
If a recession comes this time, BHP will drop to around $22.
However, this time the sharp drop in BHP's price may have been accelerated by the talk of an expected higher bid for RIO.
Any views?
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$43.30 |
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Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
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2 | 521 | 43.250 |
1 | 30 | 43.240 |
1 | 6495 | 43.220 |
2 | 6520 | 43.190 |
Price($) | Vol. | No. |
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43.300 | 4233 | 1 |
43.320 | 1484 | 1 |
43.380 | 1772 | 2 |
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