16th May at $43.52 I suggested looking at the longer trend...

16th May at $43.52 I suggested looking at the longer trend charts. Also noted that a close below $42.20 on weekly and then monthly charts would be telling.

Today BHP is dropping below 42.20 on a daily and still looks DOWN.

Sure the funds will case a rally and sell BUT do I believe the daily machinations or the charts?

Many writing here seem to repeat the trite found on the media re Greek debt. Note: Greece, Spain, Portugal, Italy etc debt is owed primarily to France and Germany and ...... so who's, in trouble?

Last year as I traveled from Changhai by train I saw express ways many incomplete, all with a few vehicles only and small truck. Village after village seemingly in the middle of nowhere with tens of tall units often (grouped in approx 10 and 5+ deep) what wed call a town etc but few people and many incomplete..... it's a bubble.

So back to the charts. The trendline from the low in 2008 has been broken....next drop and rally back to trend line and then fail.

I think the banks are in the same position and the AUD$ also. goodbye Australia.