november could be worse than october, page-21

Hi thooh,

"If BHP did go down to $20 will it be bounce back to $29? Besides, what will the support level for BHP?"

In short, the answer is YES - but you could be waiting a while.

A fall in this current downcycle to the $21 area should elicit a bounce and if it's only + $3 or so, another slide should follow.

Talk about $40 oil is quite plausible and copper could get really cheap soon as well. Both of these affect BHP.

My attention is now turned to the Weekly BHP chart and when it reveals a crucial signal, i'll assume that the worst is over.

I expect any December recovery to be a real struggle and it "might" get back to $29 by mid December.

I have a definite view on where the current low might go, but you probably won't believe me, coz it's really nasty.

Suffice to say, when you see BHP go to a price you wouldn't believe, it could be a time to consider it.

That's how Mr Buffet works.

I'm still shorting BHP!