BHP surged to new highs on Wednesday driving away from the psychological $50 area – over recent years investors have believed BHP was “easy money” sell above $50 and buy below $40, until one day! We have been considering trimming (not selling) our BHP positions in recent weeks but its feeling too soon at this stage as money continues to rotate into the resources sector.
- We can see BHP testing the $55 area in the coming months as demand for copper and resource stocks gathers momentum: MM owns BHP in its Active Growth and Active Income Portfolios.
MM is long and bullish towards BHP around $52
Add To Hit List
