Virginiak, i am not saying that i believe it will go all the way back to $8, i just think that the way the market is going down, the way bhp price is coming off now and the outlook for the global economy, then don't believe it when people say its a bargain at current prices.
Its very likely to test $20 BEFORE the turn of the tide from advanced country recession back into the black. This market trading at the moment is panic for sure, but it will not just rebound in the next week ahead. There is going to be sustained pain for all over the next year or so and during that time all these stocks are going to move lower as that sentiment becomes entrenched in the market.
Any broker that tells you different either is talking his book or has not had enough years in the market to have experienced bad times and this sort of fall out is far worse than any of us has experienced in the past 40 years! Being around just during the tech wreck and the asian meltdown is not enough experience to make comment.
BHP Price at posting:
$27.58 Sentiment: LT Sell Disclosure: Not Held
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