Hi Moped, life has been hectic with work, so my trading has been purely position, and my shorts are well out of the money. I should have known that the 8's would play again, and this BHP top shows the same 8 correlation. If that's true, then a slight overshoot below $40 would be the most likely, and in the event of an absolute disaster, $32 again. But unless this is a sustained downturn, I don't think we'll see 32.
People are talking about the next turn date in early-mid nov, so perhaps we fall for about a month, with tiny failed rallies in between.
Either way, the play is definitely a short now that the Dow is below 13700 (key range). Unless the US rallies hard on monday night to get back above 13700, I think we should see $43 odd by the end of this week. Its always difficult to pick the bottom. Even the last correction surprised me. We had significant support at both 35.50 and 34, so I guess it goes to show that the technical trades don't always give us solid bottoms.
BHP is no more solid now than it was a few months back, so I think the current price is hghly over inflated. A true value around 42, 43 should see the year out I'd say.
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Last
$43.80 |
Change
0.370(0.85%) |
Mkt cap ! $222.2B |
Open | High | Low | Value | Volume |
$43.46 | $44.42 | $43.33 | $264.8M | 6.047M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 12 | $43.79 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$43.80 | 13551 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 12 | 43.790 |
2 | 2320 | 43.770 |
1 | 507 | 43.760 |
1 | 228 | 43.730 |
1 | 915 | 43.700 |
Price($) | Vol. | No. |
---|---|---|
43.800 | 13551 | 1 |
43.810 | 254 | 1 |
43.830 | 39 | 1 |
43.850 | 25005 | 2 |
43.920 | 507 | 2 |
Last trade - 16.10pm 14/10/2024 (20 minute delay) ? |
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