BP - off the hook ? ...and a BUY ?

amcluesent

So Obamalamadingdong will now be 'kicking bottom' (translated from the American).

Good to see the formerly most powerful man in the world revealed as a sports bar blow-hard. Tomorrow we'll benefit from his 20:20 hindsight, I expect.

Yakubu22

BP now trading below the £4 mark. A worthwhile punt, or further to drop?

StevieJ

Yakubu22 wrote: »

BP now trading below the £4 mark. A worthwhile punt, or further to drop?

Dividend yield now close to 10%, 9.35 before todays fall, If it makes it down to £3.60 I will be in.

A view from the traders.

http://www.tradingmarkets.com/news/press-release/bp_cvx_xom_rds.a_tot_zacks-analyst-blog-highlights-bp-exxon-chevron-shell-and-total-972523.html

tradetime

Time to tell the Yanks to shove it?

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a3hdg31PUmp8

Old_Slaphead

tradetime wrote: »

Time to tell the Yanks to shove it?

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a3hdg31PUmp8

Brilliant - maybe there's a job their for Alastair Campbell!

Most of employees are Yanks anyway and around 50% of divi goes to US pension funds so they're (literally) in the doo-doo just as much as us.

Maybe BP should start spreading the cr*p around a bit and involving some of the other interested parties

amcluesent

>A worthwhile punt, or further to drop?<

I know peeps who've set 375 as a trigger to buy in.

StevieJ

tradetime wrote: »

Time to tell the Yanks to shove it?

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a3hdg31PUmp8

Article suggesting that the Yanks were well aware of the dangers.

The 2000 warning, however, indicates that some federal regulators were well aware of the potential hazards of deepwater oil production in its early years, experts and former MMS officials told McClatchy.
Yet over the past decade, the risks faded into the background as America thirsted for new oil sources, the energy industry mastered new drilling technologies and the number of deepwater wells in the Gulf swelled into the thousands. Then-President George W. Bush ushered in the new era with an executive order on May 18, 2001, that pushed his new administration to speed up the search for oil.

http://www.miamiherald.com/2010/06/08/1670461/oil-disaster-scenario-plays-out.html

Yakubu22

amcluesent wrote: »

>A worthwhile punt, or further to drop?<

I know peeps who've set 375 as a trigger to buy in.

I have my stock ticker running on this. I think a lot of people may be tempted at around this level. Although i'm not sure if it will quite hit 375.

worldtraveller

IMHO, with the general continuing fall in equity markets that I expect to see in the next few months, BP could well drop to nearer, or even below 300, especially of course, but not entirely, if they are still unable to stop the leak with the relief wells. Even if they are successful, the company still faces a huge range of issues, which are likely to put continued pressure on the SP for much, much longer. Although fundamentals may possibly scream "buy", I feel that these go out of the window in situations like this, and sentiment largely rules the roost.

worldtraveller

BP SP is being hammered in U.S. trading this evening.

Currently down over 13%, and that's on an otherwise generally rising market, with oil prices up!