Where should I start buying BHP?
Greetings and thank you so much for your great work and helping me to sleep better at night! If one were to not own BHP, at what price do you suggest one could start to accumulate? Thx so much, Bob
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Answer
Hi Bob,
If you’ve been waiting for an ideal entry into BHP last weeks bid for Anglo American (AAL LN) and subsequent weakness in the “Big Australian” has certainly helped your cause. We already hold BHP in our Active Growth & Active Income Portfolios and are looking to increase these positions if/when BHP tests the $40-1 area, now only 3-4% lower.
Hence by definition MM likes BHP at these levels and whatever our holdings this is where we would be looking to add/buy BHP. However, there is an obvious caveat here depending on how BHP “plays” the next step of its attempt to buy the UK based player AAL, a variable that could have a significant influence on the short-term price action of BHP.
