BHP Revisited

Last time I looked at BHP it was going down and of course on 2/27 it dropped like an old stone.



This, of course, is one of Cramer's picks and that in itself should disqualify it from any consideration on this site - but ---



A stock that looks so crappy on the daily charts looks like must buy on the weekly - if you are of a long term mind or have some room in your core this one might fit your mining requirement. I putting this one in my core - I think it has a lot of room to run.

Look at WLT Go

My biggest problem and I've written about this before is my impatience. I could have had some serious profit in WLT if I had just held on to it. It is up .84% today! Sometimes it just doesn't pay to sell.

Of course the people who listened to Jimmy Crack Corn Pone a couple of weeks ago about BHP are looking at this now -



I have a feeling that they are cursing their patience.

I added to my TIE and RIO positions and bought PAAS off the tweezer bottom this morning and XING too. I've been thinking about TRA but I'm going to wait until the DIA breaks through it's pivot point - 35 cents from where it is this minute (10:43 EST). The DIA bounced off its Support 2 this morning after about 20 minutes and is now going sideways up. It would have been an excellent pivot trade.



It looks like it is done for the moment - from here it is setting up to go down or up so if you did buy earlier you might want to set your stop real close.

Buy or Sell?

I give you BHP - Cramer says "I have rarely, if ever, seen a company that is more in love with its shareholders than BHP. ... I think BHP goes to 50 bucks. where it should be right now ..."



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.