Current move has got a lot to do with possible warand oil...

Current move has got a lot to do with possible war
and oil prices. Oile futures has softened a tad -
but waiting G. Bushs speech to UN today.
If the tone of his speech is hard and possibility of the
war increases oil prices will be over US$30 . BHP will
be moving with this. Also other metal prices has firmed
in the last few days which is good for BHP.
But looking to hold above yesterdays close which is good.
There was interesting interview on ABC other night: Tony interviewed Henry Kissinger, and his message was
pretty clear that China, Russia and France will not veto
a possible resolution and time frame to fullfil that resolution by Iraq. They can not afford to beaacuse if they do kaos will prevail and then there are no ground rules for the future re: weapons of mass destrcution etc. So, as I see it UN security counsil will give Iraq few weeks to let inspectors in and if not ....
Also, OPEC has their meeting on the 19th where they
will desice re: increasing production which is unlikely
to happen because the current rice in the oil price is not
based on increased demand, it is mainly war premium.
So, tonights speech will lead the way and personally I think that BHP has everything going for them - pity the
reason is a war....so, $10 is not far away..But should the opposite happen there is a strong support at $9.10sh...


cheers