It's been a long wait but now it's here: two bullish pattern in three days! I wasn't smart enough to sell out before the big coronavirus downturn, but nor was I stupid enough to sell out at the bottom on 16 March when I was staring down the abyss of a 33% loss.
On that day, BHP closed at $25.20 (with an intra-day low of $24.05), after having been as high as $42.33 in the preceding 12-month period.
It must've scared the pants of some of the smaller shareholders who saw their lifesavings go up in smoke! I was a bit more sanguine and counted on the fact that the world's biggest miner was always going to pay a big-enough dividend to provide me with a comfortable retirement.
It certainly didn't stop the big boys like Vanguard to stake out their position in what is still China's largest supplier of iron ore and coal.
The Chinese may not like our beef or barley, but when it comes to iron ore, they have little choice as our unique blend of iron ore and its proximity to their ports gives BHP the upper hand.
Whoa, big fella. Let's see that $40-plus again!
