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

Bollingbrook

tradetime wrote: »

Against the drop yesterday of about -15% in US trading, BP is trading +11% in the US pre-market session

Interesting. Where do you access this information may I ask?

tradetime

Bollingbrook wrote: »

The stats for BP show 52 Week High: 655.40p 52 Week Low: 272.60p. I assume this low was intra-day, a blip at some point? The closing price chart for the year suggests a low nearer 475p before this incident. Anyone know what this 272p low price is about?

I see that on Digital Look, that is incorrect, todays low is the 52 week low, that price may have been a "bad tick" intraday that was not cleaned out of their system.

tradetime

Bollingbrook wrote: »

Interesting. Where do you access this information may I ask?

US pre-market?

From my data provider.

Bollingbrook

Well I've decided to buy BP shares. Greedy when others are fearful and all that.

tradetime

Bollingbrook

going back to some of your previous questions, if I just wanted a decent dividend paying stock, that gave me exposure to the large integrated oil and gas sector, I'd probably look at Royal Dutch Shell (RDSB) paying about a 6.8% dividend, not as sexy as BP, and doesn't have the upside potential, but then it doesn't carry BP's current downside risk either. (probably just doomed Shell with that comment )

Fair disclosure, I hold them as well.

turbobob

Bollingbrook wrote: »

Well I've decided to buy BP shares. Greedy when others are fearful and all that.

Indeed, best of luck

StevieJ

luvpump wrote: »

To BP or not to BP ? They are starting to look very cheap indeed !.. worth a punt ? 5k for instance ?

They looked even cheaper earlier, you could have been in and out with a nice profit.

tradetime

Ok for anyone who's read a few of my posts, you'll know I'm not generally the investing type, given I tend to think long term is anything after the close of the market today.

So a question for those who do invest. What would be the pro's and cons of preference shares, generally, and in the case of BP currently, if there is a difference.

Bollingbrook

tradetime wrote: »

Bollingbrook

going back to some of your previous questions, if I just wanted a decent dividend paying stock, that gave me exposure to the large integrated oil and gas sector, I'd probably look at Royal Dutch Shell (RDSB) paying about a 6.8% dividend, not as sexy as BP, and doesn't have the upside potential, but then it doesn't carry BP's current downside risk either. (probably just doomed Shell with that comment )

Fair disclosure, I hold them as well.

Thanks. I have some BP now, but will look at Royal Dutch Shell to balance the risk as I am happy to be in Oil/Gas.

sabretoothtigger

NY Times ran a front page story yesterday detailing a pre packaged bankruptcy deal for BP. This would help to control damages from criminal liability and a jury punitive damages award running into hundreds of billions against BP


This would allow the maintenance of shareholders and limitation of bp liabilities in order for the company to be broken up and merged into another oil giant such as shell or exxon

365 is the previous low for BP and 346 is the trend low for BP taking the most negative prices going back to 2006 and extrapolating for time and continued poor performance we would reach this mark. Obviously it had been doing much better but shares now reflect the very worst possible performance.

It can always get worse I guess but there is a disparity with events outside of the gulf as the oil price has more then doubled and bp has done well