Anybody buying BP?

[CoachCB]

I bought BP a few weeks ago, when it was dropping bigtime. I got in around $29.30/share (175 shares total). It went even lower, down to around $26.

It's 52 week high is $62. IMO, this is a solid company...and stock. Once the leak is stopped, I see this stock getting back - at least - half of what it lost (to around $44/share).

It's back up over $33 now...w/ several consecutive days of gains. The company may be bought out soon. The stock is very volatile right now and can swing big time in either direction (more likely down, until the leak is stopped).

Anyhow, my shares are up over $800 now. I'd love to see it come back a few more dollars. I'm not sure yet when I'll sell (what profit margin will be worth selling it). I'd hate to get out at $35/share and then watch it run up well over $40....but, it could make another tank and go below $26.

It will be interesting to see what happens with it.....



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[joelatti]

I also think its a Good company, but Karma is a bitch and I don't think BP will stop that well on time...So first bit of bad news and look out

 

[groundhog11]

take your profits....it will come back down again to 26 and you can rebuy it....

 

[CoachCB]

gh, you are probably right. I can walk right now w/ 8 hundy....and then get back in!! I like it....

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[CoachCB]

BP up $2.71 today....and up in after-hours trading! I'm over $1,200!! Not sure if I should run w/ this profit of let it ride....


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[souzathelooza]

You haven't made a dime until you cash out.


Cash out.

Buy it when it drifts back lower.

 

[Hitman26]

sell half if you don't know what to do

 

[CoachCB]

Boys, I sold yesterday. I made $1,285. I'll take it! It went down .70 today. I'm not sure if I'll get back in anytime soon. If it tanks again, possibly.

Thanks for the inputs....

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[CoachCB]

BP up $2.74 today after the announcement of the successful capping....on the other hand, if it was unsuccessful, the stock would have gone the other way. I still see this stock going well into the $40's....

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[6figure]

Still some risk, but buying now and holding for a 5-10 years should bring solid returns. I think!

 

[CoachCB]

6, I agree. BP is a solid company. Exxon stock came back very, very strong. When BP starts paying dividends again, it will be well worth getting it now and holding....

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[punter]

Yes Exxon came back quickly because the Valdez accident was outta the norm for that company.

BP is a bit different. This accident fits into a disturbing trend of safety 2nd or 3rd. I think that it will be a lot more difficult for them to live this down.

Remember Union Carbide, they got a great break on the settlement so the financial loss was not at all crippling but the result was such a horror that they were branded and never recovered.

 

[CoachCB]

Punter, I'm not going to argue w/ that logic. However, BP is a solid company. They are as big...or bigger than Exxon. It may take BP a few years to settle....or longer....depending on the clean up operation. Regardless, this is a huge company. They are all over the world. They employ thousands of people. Their 52 week high is around $62. They went as low as $26 w/ this mess. They are now in the $36-39 range. I see them going to mid $40's...or higher in the next year or so....and they will start paying dividends again in the next year or so...which will make them a value...especially at 30-40% discount.

What's your thoughts?

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[punter]

You are probably right. I was just throwing somthing out there to worry about. Investors have way too much peace in their lives.

 

[6figure]

Stock dropped a little yesterday. Not many pundits are recommending it right now......

 

[CujoLatte]

I love this stock I bought 100 shares of this at 30.15. Don't forget about the dividend boys! When they reinstate the dividend, and they will next quarter, you will make $3.36 per share per year! You can't beat that with a poke in the eye with a sharp stick.
Now that they have the well capped it will only go up. Remember this stock was in the $60's before the oil well sank.

 

[snoop]

They probably won't pay any div until at least the clean up is complete, could be 2-3 years from now. This stock was cheap two weeks ago, not so bargain now. If it dips below $30, I might grab some.