A couple of observations - this is a mining company - it is an excellent company - it is better than Alcoa (AA). How do I know? BHP made $35 billion in the last 12 months with 35000 employees - Alcoa made $30 billion with 125000 employees. That is how I know. Far more efficient, far better ROI and the absolutely worst chart I have ever seen.
This thing is all gaps and craps. And right now it is at the end of 3 gaps up with a DOJI. Where do you think it is going next?
We'll revisit this one in a week or so and see how it is doing.
4 comments:
BHP is traded allmost 24 hr a day,
London, NY and Sydney. That's why I think the chart us all gaps and craps.
I know - it is traded everywhere and that's possibly the reason for the horrid looking chart.
That's why I'm featuring it here - I want to see how some basic chart reading would work in an international arena.
The theory is (and I've seen this a thousand times) - after three gaps up with a DOJI the next move is down - let's just see what happens.
Thanks for your comment.
BHP looks much better on the weekly chart. 3 nice BOBs off the 90 EMA (I use an 89). Also some nice ones off the 34 EMA. I have to admit that I also have an immediate skeptical bias once I know Cramer has weighed in.
Excellent
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