showing weakness, page-38

Robb, so true.

I never rubbish a stock that keeps me in the money. BHP keeps me in the money.

A little perspective. Yes, we have been reluctant to make new highs since August 4.

BUT---- BHP has been a resiliant performer, and bounced early.

A couple of quickie comparisons:

BHP reached reached the 38.2% fib way back in December last year. CBA did it 6 months later in June this year, XJO on August 14 this year and is still there.

BHP reached the 61.8% fib in June this year, CBA on August 14, and XJO is still 800 points away from it, despite making daily higher highs.

Back to the present...

I said last night it was doable for ADR's to fight the exchange rate to reach parity with our $39.

Well they beat my expectations, posting yet another high. up $US2.04 3.05% to $US68.89 = $39.40 in AU dollars.

My concern for both BHP here and ADR's is that they've hit tht top bollinger band, and that usually spells trouble in the short term.