Atleast back your comments up with some substance MM and drop...

Atleast back your comments up with some substance MM and drop the churlish comments.

No one likes a smart ar$e.

Regardless of fundamentals there are recent downward trends with BHP - here's my uptake on things, albeit a simplistake one:

-- Short term trend (last 6 months) --
- MACD recently crossed but still well below zero line
- Bol Bands closing but not closer enough for my liking
- Clearly Trending downwards, with current sp still within the current trend range.

-- Longer Term (last 18 months)
- There is a long term trend that suggests the $30 levels reached in april/may were overbought, and current sp has been oversold. With that said, current sp is really pushing the boundaries for what constitutes overselling though, as to satisfy this long term trend I write about, it should be trading between a trending range of between $28 & $32. Clearly this is not the case.

-- Conclusion:
It's a tough one, as the current downward trend could be the start of something bigger (ie the cycle has peaked).

For investors, personally before entering I'd like to see the current trend clearly reversed, and with the MA crossing the zero line (and even then I would enter with some tight stop losses). IMO next week or two are pivitol in determining which way this is going to head long term but my gut feel tells me it isn't looking good.

There, now I've said that BHP will probably race right up to $30 and I'll have egg on my face - It's the pessimist (or is it realist) saints gut feel I have in me!

Would be interested in what others think on this without the one liner sledges, as I'm still new to this charting caper.