hawleybeach,your averaging down may be an expensive...

hawleybeach,

your averaging down may be an expensive exercise(this works better with industrials & financials eg MBL). I am a long term holder of BHP and want to accumulate more, but today before pre-open I change my buy order from 24.00 to 23.00. Will watch what happens in the USA tonite.

the selling may not be over next week. See below.
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"I think there is going to be some pressure on base metals next week," said ABN Amro's head of Sydney sales trading, Justin Gallagher, referring to the upcoming rebalancing of commodity price indices, which is expected to cause some heavy selling on base metals by funds.
"Nobody is going to be too bravely buying the dips at this point. I think it will be a pretty cautious week in resources," said Gallagher.
Gallagher also said there could be some buying opportunities in resources next week.
"I think some of these things probably get a bit over-engineered and as a result, there could be some opportunities," said Gallagher.

"Nothing's really changed and I would have thought, with BHP hanging around 12-month low, that people would start to revisit. So I think the opportunity will probably come next week when people have a look at the bigger picture."
By David Rogers, Dow Jones Newswires; 61-2-8235-2996;