With you on that. Added 25% to my BHP position today. Will probably add same again before sentiment picks up.
What you say about chartists seems reflected on hc. So often reveal themselves to be chasing relatively small % gains on relatively small positions, often on dog stocks which have been going through phases of promise and capital raisings for 20 years never creating any shareholder value.
Imo BHP being knocked wrt RIO possibility is tantamount to saying that BHP board are stupid and would proceed with something that big on terms that would destroy their own shareholder value. I don't buy that.
Loki, Seem to recall you being wary and bearish on nickel stocks a couple of months ago when they were beginning to recover, at which time I was raving about the value in IGO and JBM.
You say BHP is overvalued because of a, b and c. This is BHP's strength, not it's weakness. Iron ore,oil and Olympic Dam are quite seperate value drivers, and along with Cu and Ni really make BHP hard to knock without a global recession.
I suggest you take a really close look at BHPs growth pipeline. Look at their North West Shelf acreage position (future gas discoveries/LNG), look at their iron ore plans, look at the potential of Olympic Dam etc etc.
EL
BHP Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
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