Bp

[Mr Flibble]

Could this be ripe for shorting...again. I'm seeing some early signs of weakness in BP with a new lower low and a lower high. Bearish divergence also on a 15 minute chart. Lets see if the above gets confirmed on the longer timeframes. Comments welcome.

 

[N Rothschild]

any play on bp is pure gambling.

 

[Mr Flibble]

Any long play on BP is gambling This is a possible short still waiting to see what happens today. But Friday was the first time in 9 trading days we saw any real weakness in this stock (lower high, lower low). Thanks for your input but try to flesh it out a little next time.

 

[chilltrader]

Yes... short BP big time!!

(I need to buy it cheaper)

 

[Mr Flibble]

Well that was the dumbest call of my life. Boy can these things move pre market. News was out regarding the uncapping of the well was a success. I will now hide for an hour.

 

[Mr Flibble]

Fading this right now up 20 points pre market if I had bought this on Friday I would have lost a bit. Lets see how it goes.

 

[Mr Flibble]

Just goes to show how wrong I can be. BP was probably one of the best performing shares that day. Pride has no place in the market so I took my loss. I just wonder whether anyone here can purchase these shares pre-market?

 

[DionysusToast]

My last BP trade was a long which I brought and sold pre-market - I can't recall what I made on it now - 30-50c/share I think it was.

Generally speaking I avoid trading pre-market, I'm not aware of any limitations on pre-market trading, I thought anyone could do it...

 

[dealer911]

I think trading BP is a pure gamble - If you go short you risk Exxon coming in with a bid /a large asset sale/announcement they have stopped the leak - If you go long your running the risk that they have a new problem fitting this new cap - there is zero visability in this stock for now - nothing wrong with a pure gamble I guess as long as we are aware thats what it is!

 

[Xenophobia]

I bought BP at £2.98 the other week and sold a chunk off at £4.10.

Holding the rest until it hits £5.

Watch it go when Abu Dhabi finally buy there stake which they will. BP news is fuled by scare mongering by the press, which people here and outside of here suck up. I guess thats the power of the media, people repeat what they are told.

 

[wackypete2]

way too much overnight risk for any sensible trader for all the reasons dealer911 stated. You could be blown out before you knew what happened. If you're going to give it a go anyway I'd say try with very few shares.

Peter

 

[wackypete2]

My last BP trade was a long which I brought and sold pre-market - I can't recall what I made on it now - 30-50c/share I think it was.

Generally speaking I avoid trading pre-market, I'm not aware of any limitations on pre-market trading, I thought anyone could do it...

certain brokers don't allow it or have too many restrictions. I don't really know why.

Peter

 

[chilltrader]

Anyone still shorting BP?

please don't stop!!! - I need to top up before it hits 5 )

 

[boatman1069]

i have a future spreadbet at £20 long all the way to 565..market Cap is well underpriced...at 81 billion but real term value is 118 billion..bp still making huge profits ...only one direction for a future.....remember oil prices are on the increase as well=more profits...the negative press give small dips but treat that as a tree shaker....stay on for a great ride..

 

[SabreTT]

BP at 460 is top of a trend going back 4 years. should have been support on the way down but likely to cause hesitation at the least now.
target about 520 and 476 could be top for this year quite easily as its a decent retracement of the overall decline