I took a long position at 21, pre-div cut. Even with the cut, its still paying far more than most stocks. Throw in commodity price bounce for iron ore, gold, copper and hydrocarbons and quick settlement on the Brazil dam collapse, BHP is still fairly priced for the short term.
My broker buddy didn't talk me out of buying at $21, but he did laugh at my comment of catching a falling knife. I was buying for the long-term, not for a 60 day play. Amazing turn once they got the dividend cut out of the way.