Buying BP stocks - Chicagoland Sportbikes
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post #1 of 15 (permalink) Old 06-10-2010, 11:01 AM Thread Starter
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Buying BP stocks

Ok I know BP Fft up big time, the oil is messing up everything which is sad and everything, but...
the BP stocks are very uderrated right now; investment wise what do you think?
They had 16 Billion profit last year alone, they are involved in a diverse sources of energy, and I think they can pay for the cleanup.
What do you think? is it worth? is it wrong?
discuss..

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post #2 of 15 (permalink) Old 06-10-2010, 11:04 AM
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I would hold off a few days or maybe a couple weeks. I think they will drop a little more and eventually will bump back up. I am no expert, just a gut feeling, anyone else?

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post #3 of 15 (permalink) Old 06-10-2010, 11:04 AM
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I would use funny money just for the speculation aspect... but would not use money I could not afford to lose.

Agree on waiting for more beating up, but the hit already hit... maybe if there is a govt settlement another hit will happen, but that could take years to happen.

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post #4 of 15 (permalink) Old 06-10-2010, 11:06 AM
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I had the same thoughts about Toyota. I've been watching them, but they haven't lost much value.
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post #5 of 15 (permalink) Old 06-10-2010, 11:07 AM
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We don't how much more BP will bleed.

Check out Transocean.

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post #6 of 15 (permalink) Old 06-10-2010, 11:10 AM Thread Starter
eeee whas up doc?
 
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I had the same thoughts about Toyota. I've been watching them, but they haven't lost much value.
Toyota is a different story; people who want to buy a toyota will still buy one regardless of a crapy sensor that is being agressively adressed

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post #7 of 15 (permalink) Old 06-10-2010, 11:11 AM
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They are up 2% now, but I too would wait a week or so.

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post #8 of 15 (permalink) Old 06-10-2010, 11:11 AM
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Worst case scenario they will end up merging with another company, perhaps even a smaller one and taking over that ones name. Most of the ill will towards the BP name will die with the transfer and they will be saved taking the real hit
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post #9 of 15 (permalink) Old 06-10-2010, 11:22 AM
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Quote:
Originally Posted by Dan.O View Post
Toyota is a different story; people who want to buy a toyota will still buy one regardless of a crapy sensor that is being agressively adressed
Must

not

derail

thread.

BP has lost about 50% of their value, trading at 15 year lows and seem to have the support of the British government because of some pension shit. That sounds good.

I did read something about the US goverment trying to get them to stop paying dividends. That doesn't sound so good.

I'd be waiting until it hit bottom and showed a decent upward trend. But what the fuck do I know. If I was any good at buying stock, I wouldn't be working on cars.
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post #10 of 15 (permalink) Old 06-10-2010, 11:25 AM Thread Starter
eeee whas up doc?
 
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Quote:
BP has lost about 50% of their value, trading at 15 year lows and seem to have the support of the British government because of some pension shit. That sounds good.

I did read something about the US goverment trying to get them to stop paying dividends. That doesn't sound so good.

I'd be waiting until it hit bottom and showed a decent upward trend. But what the fuck do I know. If I was any good at buying stock, I wouldn't be working on cars.
I agree, in the end it's just speculation

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post #11 of 15 (permalink) Old 06-10-2010, 01:09 PM
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what about the possibility of bankruptcy? That is scaring me right now. They've got the potential to be the next GM if they get hit for the costs incured.

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post #12 of 15 (permalink) Old 06-10-2010, 05:45 PM
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I would jump on it now if I had liquid funds. The chances of bankruptcy is minimal because the English government won't allow it and will bail out if needed. Think of BP being to England as GM is to America. The US government bailed out the automakers when they were in trouble because of the effect it would have on the entire economy.

I'm not saying they'll jump up immediately but they'll bounce back just as high.

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post #13 of 15 (permalink) Old 06-10-2010, 05:53 PM
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If any kind of storm develops and pushes the oil onshore, BP will probably file chapter 11.

I don't know about you, but it seems a bit too risky buying a company in serious turmoil, with no definitive fix in site for the near future.

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post #14 of 15 (permalink) Old 06-10-2010, 11:47 PM
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Could be interesting to buy it or short it.... Big potential both ways, big risk!! I'd kep an eye on it a bit longer then pull the trigger.

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post #15 of 15 (permalink) Old 06-11-2010, 07:29 AM
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BP is oversold in the short term, but the long term costs will hurt them for decades.

The clean up costs, fines, and law suits will be coming in for years. I am staying away.


If you want a short term play, buy some and wait for good news (like the Bank of England bailing them out) sell on the good news and then short them. If you hold BP long, I would also hold a puts to protect yourself.

A better play would be other oil service companies, which are also over sold. Linn Energy (LINE) pays a GIANT dividend, but is down something like 30% since March.

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