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BHP: You can’t say I didn’t warn you

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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