Last Friday, BHP powered from the previous day's close of $60.80 to an intraday high of $63.21 to close at $62.93. It followed it up with a jump to $65.18 on Monday and $65.59 on Wednesday (with an intraday high of $$65.98!)
Only yesterday, it was still flirting with a high of $65.66 before closing at $65.04, which seemed like nothing more than a temporary stall, but then came this morning's news that the costs of its Jansen potash project had blown out to at least US$6.9 billion, which is 42% above the original US$4.9 billion estimate, and it got SMASHED! In its biggest single-session loss since April 2025 it dropped from $65.04 to $61.40!
The market giveth, and the market taketh away! I am back to where I was last Thursday! My diary entry reads: SELL BHP WHEN BACK AT $66!
