history repeats chart, page-20

Hai Brutie

I am not an expert in charting but with some knowledge and a pretty good software tool, these are my findings based on the well proven WD Gann principles (and confirmed on Elliott wave time projections by another advisor.)

1. Applying Square of 9 on the peak $ 50, the values are as follows: Top price is Zero degree
45 deg - price is 46.564, 90 deg is 43.21, 135 deg is 39.99 - now we are just here after breaking it.
180 deg is 36.89 and 270 deg is 31.05 $
2. Applying square of the range, the time and price action comes almost to the above values with the lowest price going to happen next week (London market is already projecting a lower Monday ASX price).

Then I tried other indicators comparing the present fall with Jan and March fall. Definitely, the present fall is akin to Jan 2008 fall. I have given the last 3 days of the fall and change in trend.

Open High Low Close
21 Jan 2008 34.59 35.48 33.29 33.29
22 Jan 2008 31.5 32.28 31 31
23 Jan 2008 33.4 34.29 33.29 33.89 (Trend change)


18 Mar 2008 36.33 36.34 35.54 35.7
19 Mar 36.72 37.14 36.54 36.95
20 Mar 34.85 35.06 33.52 33.87
25 Mar - trend change


Although the Jan 2008 low (31) seems more probable , I feel it would be similar to March low (33.29). Anyway the actual low value does not matter as it is only a transient value and the stock will immediatley change trend.

Unfortunately I am not an expert like many of you to post some brilliant charts - may be I would learn to do later. Anyway I wanted to share my thoughts.

Another thing - it appears many people are trying to be in love with the stock - love or hate is no good - reasoning is what is good.

This swift very short term pain for BHP is going to be a very good dose of medicine for it to be stronger always at a minimum price of $ 52 and thereafter going up further with time.

Trust this helps. I do not hold BHP now and would wait for the first and second impulse wave to happen for longer term
investment.

Sara