I wish it would happen too. If BHP got to $11 I would sell my house and put it all in BHP. But I dont think that is likely no matter what happens on the world scene. BHP is already a basement bargain at the current price. They are about to report record profits ~ 22 billion, up 25%, which will put the PE around 8.5 by my estimates.
Quality stocks don't come much cheaper than that! If they do then all I can say is - buy buy buy!