wxzy weekly elliott waves

wxyz

In an earlier post I provided a weekly chart showing a 260 week [5 year] Elliott Wave 5 projecting BHP's SP with a Wave 5 rise to about $60 by late 2010 [reference below]. I also pointed out that on daily charts Elliott Waves are projecting a Wave 5 drop to about $12.

IMO ATM "the jury is out" [ie. no clear trend] but our market is ~50% below the Nov 2007 top with just 50% left to zero! IMO BHP has a good chance of surviving the worst economic scenario that can be generated and barring an apocolyptic future looks set to emerge post this global financial mess as Numero Uno as a diversified miner.

IMO BHP is somewhat ahead of tax-payer bailed out financial orgs. which are really responsible for the current mess. Begs the questions; "What it a capitalist system without capital?"

At a time when US, Japanese & European capital has deserted our market IMO the intelligent money is now coming from China - why pay $big for Aussie dirt when you can have a stake in Auusie miners for a song?



4YIO -NFA