I think the market is general will have a tough last half and even tougher in 2007. Those companies announcing records profits like BHP will soon be announcing lower than expected profits as demand slows and the economy falters.
All those people wanting to go short, now could be the time, Friday was the best time since BHP closed on its highs from window dressing and should gap down on Monday with the US down and then continue to head lower in the weeks ahead.
I still see BHP testing once again the lows around $24.50 and possibly lower if the economy slows and all points to that happening.
As McHugh says this is now the new bear market and a short term rally with in that.
bhp predicts tough year for iron ore, page-2
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Last
$40.77 |
Change
0.240(0.59%) |
Mkt cap ! $206.7B | |||
| Open | High | Low | Value | Volume |
| $40.70 | $40.90 | $40.45 | $537.7M | 13.19M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 50 | $40.76 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $40.78 | 8000 | 4 |
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| Last trade - 16.10pm 30/08/2024 (20 minute delay) ? |
| BHP (ASX) Chart |