BHP: You can't say I didn't warn you

BHP Billiton lost 1.4% to close below $33, its seventh consecutive loss, and its tenth loss in 12 sessions.

Bruce Jackson

Bruce co-founded The Motley Fool UK in 1997. Now back in his native Australia, Bruce is the General Manager of the Motley Fool's Australian operations. Bruce holds a Bachelor of Business (Accounting) and a Diploma of Financial Services. He writes The Motley Fool's popular and widely read Take Stock free email newsletter. He is a keen investor himself, and particularly enjoys picking up stocks during the market's periodic but regular periods of panic.

Published March 26, 2013 3:51 pm AEDT

The S&P/ASX 200 has just posted its eighth loss in 11 sessions, closing down 40 points to 4950.

If you thought that was bad, bear a thought for BHP Billiton (ASX: BHP) shareholders. The shares lost another 1.4% to close below $33, its seventh consecutive loss, and its tenth loss in 12 sessions.

Sounds like a bit of a trend…

It was only the beginning of this month when I warned investors in BHP and Rio Tinto (ASX: RIO) might need to look out below, especially if the iron ore price crashed to anything like the US$80 a tonne predicted by Andy Xie, a former Morgan Stanley chief Asia economist.

We're a long way from that point, but getting closer to the $30 price I'd consider topping up on my holding in the Big Australian.

Good things come to those who wait…and those who Invest Foolishly.

The Motley Fool's purpose is to help the world invest, better. Click here now for your FREE subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Motley Fool General Manager Bruce Jackson has an interest in BHP Billiton.

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