Hi my 2c worth. for the record I am no longer permanently bearish on the world as I have been this last year. The market looks to have taken it's finger off the reset button.....but....
for one thing the rally has now reached the 90 day mark. but secondly BHP, who seems to be the one to have started this IO charge, reached a high last May of exactly $50 and a low last November of exactly $20. By my calcs the 61.8% upwards retrace is $38.54. BHP hit an intraday high on friday of $38.60 on high volume and with a gap. To me that smells like a top.
And that is not to take away from some of the wonderful posts on this thread (esp from Robbbbb). I am now building my own IO watch list based on info from this thread. I am just urging caution as a better entry may lie ahead.....lol or maybe not.
