BP...should i go long..??

counter_violent said:
The knives are out for B P. How do I know ? Obama is leading the charge !
Click to expand...

Obama is a disappointment to lots of people. I can't see what else he has done, except a little bit of health reform. He needs a scapegoat and BP is a nice, big one, with which everyone is p'd off.

Not that I say that they do not deserve it but they are an obvious target to take away a lot of Obama's woes.
 
Here's how a phone conversation between Obama and Cameron will go.

Cameron - Hey Barack, back off our Brit company mate
Obama - No way dude, its my chance to show the country what I'm made of!
Cameron - well.. in that case I'll need to rethink our troops position in Iraq and Afghanistan...
Obama - Hey Hey!! gotcha dude.. just cool down.. I'll ease up on BP...we want a "win-win" remember?!
 
chilltrader said:
Here's how a phone conversation between Obama and Cameron will go.

Cameron - Hey Barack, back off our Brit company mate
Obama - No way dude, its my chance to show the country what I'm made of!
Cameron - well.. in that case I'll need to rethink our troops position in Iraq and Afghanistan...
Obama - Hey Hey!! gotcha dude.. just cool down.. I'll ease up on BP...we want a "win-win" remember?!
Click to expand...

I'm glad that Cameron has a bargaining chip. :)
 
chilltrader said:
Here's how a phone conversation between Obama and Cameron will go.

Cameron - Hey Barack, back off our Brit company mate
Obama - No way dude, its my chance to show the country what I'm made of!
Cameron - well.. in that case I'll need to rethink our troops position in Iraq and Afghanistan...
Obama - Hey Hey!! gotcha dude.. just cool down.. I'll ease up on BP...we want a "win-win" remember?!
Click to expand...

:LOL: @ the thought of Cameron using the word 'mate'.
 
Black Swan said:
Lots of discussion re this on the web, Hayward has come out and categorically stated that the divi will be paid. IMHO we have (as a global village) reached peak on the mining sector/oil and a few others I could mention, peak in as much as the cost of extraction will perhaps not equal the previous returns. Mining has enjoyed a bubble since 2008 which has been absurd quite frankly. Look how this oil/tar/sand boom in Canada is struggling to really materialise...

Whether oil *lasts* another 50 years or 100 it's still finite and given the world's economy is underpinned by it, which is why continual administrations of the USofA crusade in order to grab it all so they can shape the world destiny as they see fit, as a consequence its extraction will become more politically complicated year on year.
I see all this stock as incredibly risky. Returns could be off the scale but one thing's for sure, the cosy 'clever' sleeping retail investments in for example Shell, BP and the mining sector could be a thing of the past..

Watch how BP now explodes past 1000p after Obama has a luv in with Hayward as they don overalls and clean up the beaches whilst signing off a 100 year lease to rape the seas of everything, meanwhile Cheyne and Haliburton reps do the security on the beach and snigger that they got off scot free once again with BP taking all the blame...:D
Click to expand...

Bump...:LOL: Anyone go long?
 
chilltrader said:
Here's how a phone conversation between Obama and Cameron will go.

Cameron - Hey Barack, back off our Brit company mate
Obama - No way dude, its my chance to show the country what I'm made of!
Cameron - well.. in that case I'll need to rethink our troops position in Iraq and Afghanistan...
Obama - Hey Hey!! gotcha dude.. just cool down.. I'll ease up on BP...we want a "win-win" remember?!
Click to expand...

yes im sure the US will be devastated at losing the UK's 500 troop contribution
 
Forget BP. Why?

1. They might go backrupt
2. Price is too sensitive to news rather than technicals

Focus on other stocks like XOM, DO, RIG, HAL, and others that were affected, but are NOT the center of attention here. Many oil stocks are at great discounts now because of BP. I own DO, and Im up nice today off the double bottom bounce off the weekly charts.
 
Konviction said:
Forget BP. Why?

1. They might go backrupt
2. Price is too sensitive to news rather than technicals

Focus on other stocks like XOM, DO, RIG, HAL, and others that were affected, but are NOT the center of attention here. Many oil stocks are at great discounts now because of BP. I own DO, and Im up nice today off the double bottom bounce off the weekly charts.
Click to expand...


One could have made money buying BP today actually at the right time.
 
Obama is being an extreme t*t about this, which shows how much trouble he is in. One-term president, provided the Republicans don't put Palin forward in 2012.

Why buy BP here? Why not wait for it to consolidate, then move higher and look for a breakout to buy. Buying here is the old catching a falling dagger routine. If you think the stock might rally to 1,000p, who cares if you miss out on 200p of that move, you'll still make a chunk.
 
meanreversion said:
Obama is being an extreme t*t about this, which shows how much trouble he is in. One-term president, provided the Republicans don't put Palin forward in 2012.

Why buy BP here? Why not wait for it to consolidate, then move higher and look for a breakout to buy. Buying here is the old catching a falling dagger routine. If you think the stock might rally to 1,000p, who cares if you miss out on 200p of that move, you'll still make a chunk.
Click to expand...

Markets/rational/you remain solvent etc...or, as ShadowNinja says, you can stay irrational longer than the market stays solvent...:D
 
Konviction said:
Forget BP. Why?

1. They might go backrupt
2. Price is too sensitive to news rather than technicals
Click to expand...

They wont go bankrupt. Their CDS are telling us they are fine. they are trading in the normal ranges of some lower rated corporate bonds Junk if you will but even those ranges are 10% probabilities of default that it. 10% doesnt happen to companies like these. This isn't 30x leveraged Lehman Brothers... Fundamentals are fine and the -15% sell off was just crazy.
 
LEAPS
Tomorrow Im going to be Eye balling either the JAN12 Bullish 32.50/40.00 Call Spread or the JAN12 Bullish 30/40 Put Spread

Hopefully the action slows first thing in the morning... Afterhours looks calm...
 
My boss got filled at 338p yesterday. I didnt get my fill til 347p & 352p.
We both took half off at 379p (previous days low).

Target of 470p for the rest.
 
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