re: bhp broken 1218,fall to 1199/1201cfd,arthur,ge Hi...

re: bhp broken 1218,fall to 1199/1201cfd,arthur,ge Hi Astoriaa,

BHP is playing out exactly as I had hoped. I still feel there is a bit more downside to this stock before it pumps back up and pumps back hard. If you look at the last few months, it has definitely continued to follow its uptrend. I guess a lot also depends on what happens overseas in the US. I am looking for a pullback as far as 11.50 - 11.70 mark (ie pullback on its trendline). If you can get set for a call around that price I think its a fairly safe play. I am expecting the markets in the US to go down another 200-300 points over the coming weeks. Its had a great run recently, and traders will be looking to lock in those profits from its great run. Its human nature. Unfortunately with the US turning down it will drag fundamentally sound stocks like BHP with it, but use this as a good buying opportunity to get set for its next run over 12.50 and beyond.

Happy Trading