Robb, so true.
I never rubbish a stock that keeps me in the money. BHP keeps me in the money.
A little perspective. Yes, we have been reluctant to make new highs since August 4.
BUT---- BHP has been a resiliant performer, and bounced early.
A couple of quickie comparisons:
BHP reached reached the 38.2% fib way back in December last year. CBA did it 6 months later in June this year, XJO on August 14 this year and is still there.
BHP reached the 61.8% fib in June this year, CBA on August 14, and XJO is still 800 points away from it, despite making daily higher highs.
Back to the present...
I said last night it was doable for ADR's to fight the exchange rate to reach parity with our $39.
Well they beat my expectations, posting yet another high. up $US2.04 3.05% to $US68.89 = $39.40 in AU dollars.
My concern for both BHP here and ADR's is that they've hit tht top bollinger band, and that usually spells trouble in the short term.
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