where is the bottom

I am not a technical trader, but do look at charts as an indicator of the potential.

Everyone is now talking about where is the bottom for bhp (and in fact the market). Most are saying that bhp is going to be insulated from much bigger losses due to its brilliant position and contracted prices of iron ore with china. Most say china is not going to slide (including the imf).

If you believe what people are now saying, that the world's advanced nations are headed for recession and some perhaps into depression, then times ahead are going to be tough for all. It will have a huge impact on the demand and the price for commodities, including copper, iron, manganese, oil and gas. Diamonds are already in oversupply currently.

Guess what? bhp has all of the above commodities, and so IF there is a significant number of countries worldwide in recession, IF the recession is long term (remember we are already in a credit-starved world and its not going to get fixed in a hurry), THEN guess which shares will be hit hard? Resources stocks, and stocks with leading positions in those stocks above - which company has been creaming in on each of those commodities above? BHP

Back to the charts - if you look at a LONG TERM chart of bhp, go back only 6 years. What was the price of bhp? Around $8.60 per share!!!

Is this the turning point for bhp, or is it a signal that its actually now on a precipice and ready to come off a couple of fantastic years, with a double top and now back to its price of around $8?

ITs a big call!

Good luck to all holders....