you just cant keep the big guy dow, page-33

Got all four banks, cba after cap raising so very happy. More luck than anything, buying for the long term as can't trade any more, although I do follow the logic that if the economy comes good, banks will be the first to recover as people need to borrow cash to make cash. Just posted on bloomberg;

Commodities Slump

The global recession has hurt commodities demand, creating a glut of oil that has driven prices down 75 percent from a record $147.27 on July 11. A measure of six metals traded on the London Metal Exchange lost 2.8 percent, bringing the slide from a March peak to 63 percent. Copper prices plunged as much as 6.3 percent to the lowest since October 2004.



Crude oil futures declined 9.6 percent to $36.22 a barrel in New York yesterday, the lowest settlement since June 2004. Oil prices fell in spite of a record output cut by the Organization of Petroleum Exporting Countries this week.

I still have no doubt that at some point in the next 6 months bhp will be the buy of the century, bhp pretty much sells everything on the commodities index, it has fallen 63 percent with a large chunk of that in the past 6 weeks, if the products you sell drop by that amount at some point it is going to hurt the share price. Simple as that.

Have a good weekend. Got the christmas party tonight, so will hide the computer. lol