BHP plunges & investors attention focuses on property

Nicholas Forsyth

Market Matters

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)


MORE ON



1 stock mentioned

Director
Market Matters

Market Matters is an online investment and share trading advisory service designed for those that want to take their wealth further. We specialise in advice for active share market investors, including those new to the markets or those with a Self...

Expertise

No areas of expertise

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.