is it a good time to buy?, page-2

boffin1979

Re; ... " ...Am I waiting in vain for the price to fall or is the current SP more of what to expect?"

Please DYOR & decide based on your own financial position, status for risk etc.

IMO atm the BHP jury is out & many traders / investors are undecided. BHP's recent bond-raisings have rekindled the issue of takeover targets for BHP - the RIO experience caused considerable pain for investors. The latest news re investing in Olympic Dam & delay of the ETS may however trigger greater optimism.

Atm BHP's trend on one day & 2 day swing charts is slowly down -these last few weeks have seen marginally lower swing lows & marginally lower swing highs.

However, there is also evidence of a reverse head & shoulders pattern developing, longer weekly Elliott Waves project a big Wave 5 rise whereas shorter ones project a sharp Wave 5 plunge.

In summary, BHP has been range trading between $31.25 & $34.28. BHP has also been heavily shorted at times - up to 42% in a day & typically in the range of 20% to 30%! As a result many of us are waiting for a clearer direction.

4YIO - NFA