As per my reply to trader_10, I didn't make it to the beach but I have been enjoying our grand kids these last few days.
In other posts I indicated that picking the end of Elliott Wave 4 can be tricky - looks like that is also the case on this occasion with BHP. I freely admit that general market sentiment has been very sour since mid-May - ppl hate uncertainty & non-completion of the IO contract price went on for a long time. The bid for RIO is continuing as well.
However, IMHO many stocks are becoming so cheap you can pay for them with their divvis in less than 10 years [eg. NBL - 20c pa divvi @ $1.86! & about to undergo a share buyback as well! Disclosure - I own some of it too!].
IMHO talk about smashed profits etc. for many companies is just plain wrong. Many instos & cashed up investors are waiting to pounce & will do so on the first real positive series of signals [eg. falling oil prices]. Once the US Summer Hols are finished & they return to work commonsense may return.
4YIO - NFA
BHP Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
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