bhp and market open predictions...

The market is going to treat the majority of mining shares as though this new tax were already in place. As though the mining sector has become the poisoned egg, as though mining companies will halt all Australian based future projects and head off shore, chicken little, sky falling, the whole bit.

I'm still going to chase BHP and trade them and find a way to make money from them and if l cant or its hard i will adapt and refocus and readjust and reaffirm my love affair with this great Australian behemoth and l say l do believe that 10.00 am today is going to be an opening to remember and......
bhp to $38... l posit. Could go so many ways. Many wont have time to fully digest the implications before work this morning / adjust holdings and stops and the like. A run down to $32 with domino stop losses on high volumes and massive redistribution would light up my screens and prove a good real time learning experience and a great buy opp ich glaube.

why do l believe that those with strong vested interests will apply some mysterious yet powerful force and she'll be right and who knows maybe even a little better... water always finds its level. Crafty cheddars. Where there is a will there is somebody somewhere devising a plan to get his way.

Nothing surprises me anymore except really significant events involving large sums of my hard earned dollars occuring on a semi regular basis in ways that mystify and horrify me. And the markets are full of them. Even my best educ guesses these days seem like pancake batter.

So... initial panic sell off to around $36, high volatility and huge volumes, wide day trading range, and finally settling around $38 with more downside tomorrow... to $36?
my 2c.

As an aside, Why is being right more terrifying than being wrong? Because, l think, l prep 100s of stocks and get them all wrong and its ok... infact, its what l want. I only need one decision to be right, and that is the decision what and how to trade what for the day.

I expect 199 out of 200 considered positions to be wrong/inferior. I trade the remaining stock. With the odds of pullling off a 1 in 200 corrrect choice, executed correctly, notwithstanding all else that goes wrong and will and has..... being right at the end of the day is a miraculous thing and that scares me. Being wrong all the time is what keeps me in the game and lets me sleep at night.

Strange. Being wrong is at the heart of this great pursuit. Its how we protect our capital. Its almost more about finding the bad rather than finding the good. Because if there is nothing bad and we are relatively sure... then by the absence it must be good. And thats what l trade.

Not the presence of good, but the absence of evil.

regards