friday trading, page-57

I am just sitting here bringing up the asx top20 one by one and it is frightening how many companies are at or near 52 week lows. The whole shabang is only being held up by a few tear aways...RIO, BHP, CBA, CSL for example. There is no doubt what a powerhouse BHP is but did its report warrant the buying we have seen since ??

as one poster said on the BHP thread the half year earnings was 169c a share (338c annualized). Given that historically PEs head towards around 7 in extreme bear conditions one would think BHP should be heading towards $24 rather than $34.