bhp facing 920 mil 1st half loss on iron ore, page-11

The lose on sales isn't the point, the article just backs up the point that things are getting a lot worse and we are looking at a miniumun 1-2 year turnaround;

"Despite some optimism that credit issues and a post-Olympics slump would improve, China, the rapidly growing powerhouse that sparked the commodities boom of the past five years, now looks unlikely to pull global commodities demand out of the mire for one to two years, Mr Calderon said."

and

"The situation, particularly on this side of the world, and particularly in Russia, is looking grim and I think it is only going to get worse," he said.

furthermore

"I think we're in for tough times, much longer than people think, much, much more intense than people think."

Anyone going long now is crazy in my book. Good luck with the longs si1548, I'll buy those longs back off you in the coming weeks at a signigficant discount to now. In short bhp is overpriced compared to the market. Either the market will come up to bhp, or bhp will go down. I know which way I am tipping.