Nicholas Forsyth

In this report, we want to cover the following big issues BHP Billiton, the Australian housing market, the banks, plus we will touch on the U.S Market. Yesterday BHP plunged the most since 2008, falling to 8%, and it looks likely to open down ~3% today at $15.70. After exiting our short term BHP position over $17.50 on Tuesday a few subscribers thought we might be considering buying back into this current sell-off, but we are looking to be cautious here given the current price action. Medium-term the cutting of the dividend and the holding back of some cash for potential acquisitions is positive and could be the catalyst for the stock to move higher if oil and iron ore hold up, but short term our view is summarised in the report. (VIEW LINK)


Please sign in to comment on this wire.