BHP was off 6% in London last night as metal prices came down. Lucky to be down only 3% here IMO.
FWIW have noticed a correlation between the London price and the share buy back. When London price drops, more shares are bought back. It seems the heavier the LSE SP falls, the greater the volume of shares bought back. And this is the time when we see the stupid buy bids coming on the market depth that disappear just before 10am, having done their job of setting the opening price...... Have a look on Monday. First thing in the morning is rarely a good time to buy this one when the SP is trending down or looks volatile. Check out some intra-day charts that meet those conditions.
I think there's more downside to come - commodity prices look like they might come off a bit more and that will mean BHP SP will retreat some more.
:)
Lekki
BHP was off 6% in London last night as metal prices came down....
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Last
$43.34 |
Change
0.020(0.05%) |
Mkt cap ! $219.8B | |||
| Open | High | Low | Value | Volume |
| $42.88 | $43.34 | $42.67 | $330.0M | 7.648M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 2028 | $43.24 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $43.35 | 15288 | 7 |
View Market Depth
| Last trade - 16.10pm 26/06/2024 (20 minute delay) ? |
| BHP (ASX) Chart |