You correctly stated that most on the BHP thread are investors and as such are not as concerned with short term volatility. Protracted down trends are another matter of course and as has been suggested a sensible stop loss policy should be employed. Charts are great for helping you establish short term trades and are useful for the 80% of rubbish on the ASX. Some play them more as an academic exercise and to ease the tedium of watching paint dry. I’ve noted however that even the most skilled of traders and chart gazers are wary of shorting BHP. That indicates a lack of conviction and rightly so.
I agree nothing spectacular will happen even with the IO price announcement.. We are all in hibernation at the moment and even if you discovered the pill that cured cancer, grew your hair back and gave you two extra inches anywhere on your body, the stock still wouldn’t fly.
One could jump in and out with this one but I have noticed over time that three good trades in a row are usually wiped out by the fourth bad one. There are safer stocks to screw around with but none safer to invest in than BHP IMHO.
BHP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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