Robbbbbb,
thanks for all your advice again today. Always level headed.
I mentioned the Baltic index being up 3% Friday. There's another indicator that's looking strong and that's the Coal price indexes (BHP's largest commodity):
Thermal prices:
30-Oct-2009 73.48 67.43 75.65
23-Oct-2009 72.53 65.90 74.43
16-Oct-2009 70.97 65.10 73.88
09-Oct-2009 71.88 64.43 73.36
There are growing ship queues in Queensland. If we were in for a lengthy downturn I would not be expecting to see these indicators strengthening as they are. BHP said China's so called restocking was complete 2 months ago. So where's the demand coming from?
Although the BHP SP may take a breather the fundamentals of BHP look to be improving. If we're in for a USD rally then even better. So we have a very interesting situation in my opinion between SP action and underlying earnings.
what's wrong with bhp?, page-10
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$39.60 |
Change
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Mkt cap ! $200.9B | |||
| Open | High | Low | Value | Volume |
| $39.19 | $39.87 | $39.10 | $371.9M | 9.393M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 10101 | $39.55 |
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| Price($) | Vol. | No. |
|---|---|---|
| $39.60 | 18075 | 2 |
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