Big blue chip mining and resource stocks are always the last...

Big blue chip mining and resource stocks are always the last pillar to fall in a bear market. Perhaps its the diehard tendancies of their shareholders. Or maybe something else?

Case in point,
take the recent run and fall of gold stocks recently. DOM a quality gold stock (amongst others), shareholders were leaving the stock like rats deserting a sinking ship, long before the decline in NCM and LGLs respective shareprices.

Case in point No.2,
the recent run and fall of the oil stocks. Stocks like ROC and TAP etc, shareholders were looking for greener pastures long before the decline of WPLs stock price, which is now occuring.

The collapse of these second line stocks is like and early warning for shareholders to get out. For Hedge funds and short sellers, the vulchers of the ASX, its like ringing the dinner bell.

Where does this leave BHP? The biggest daddy of them all. The vulchers are circling, in fact they've stopped circling and begun to pick at the carcus.

Quality second line mining and resource stocks have been absolutely decimated over the past month. BHP is following. Where will it end?

Not at current prices, at $37 theres still plenty of meat on the bone...hedge funds know this. Support at $32 likely? I dont think a move to $25 is out of the question.