please help

I became overweight BHP a few months ago for the following reasons.
1. Worlds largest miner making a fortune in the mining boom.
2. PE under 10
3. Buying back shares and now own nearly 100 mill or approx 4 % of the company. Would they be buying if they thought they were over priced? I doubt it.
4. Paying small div and ploughing the rest back into the company and share buy backs.
5. Should be debt free by the end of 2008. What will they do with all of there profits, surely a special div or cap return must be on the cards.
6. Supposedly very well run.
7. Nearly every broker has a buy on them and a target of $32-$36.
8. There 25% off there high.
9. Commodities boom should still have a few years to run with the likes of China , India , Japan etc.
10. They are a truelly diversified miner with oil, gas , uranium etc etc.
There are more reasons but Im sure you get my drift.

Have I got blinkers on ? As I just dont see why they keep dropping. Last night oil dropped slightly but other commodities were higher even Copper but they are still down 2.5%. What am I missing ? To me they are a screaming buy.
I would appreciate any views as I would rather take a small hit now and move on if there are better options. At the moment I am facing margin calls and considering selling my ANZ which I am loathe to do.
Any views good or bad much appreciated.

Cheers

GMc