The oil rig disaster in the Gulf of Mexico has damaged BP's reputation will they manage to avoid a share collapse to 350p.?



472p to buy this morning.

would increase my short position, but suspect now a bit late, but never mind .... certainly 350 looks on the cards ..... not sure what happens below that from a charting viewpoint

Off subject.

Can anyone tell me the epic re BP.
I have several sites saying the epic is BP, but when I put that into MoneyAm company zone, I get the message Not Found.

Greek.

BP.

No position, just making sure you can see a shorter chart than the one at top thread

                                          5 days chart                                                             &nbsp3 month chart


link to BP. futures on the US BP. futures

Thanks Skinny,

I missed out the .

The 2 year chart is more clear.

I don't think the chart (S/R) has much meaning atm.

Won't be long before the US realises this is a long-term source of energy - the current difficulty is a consequence of the great depth and a failed safety-valve. Maybe it was faulty, or incorrectly installed....maybe this needs attention for any new-drill . . . . but it's easy to be wise AFTER the event. I presume the Regulators approved the pipework and work-schedule, etc. so it's hardly BP's "fault" despite any knee-jerk reaction. Try telling an American they can't use their SUV, due to a shortage of home-based oil.

However, the unlimited "cost" is creating fear for Investors, hence the sp slide....but just as they fall away, there is an Opportunity for those who see the LT picture.

I suspect we are close to "value" - all we need is the dividend to be suspended and I'll BUY after the dust settles . . . . . 3.50 might happen
I hold a few.

There's the rub. It looks (atm) as if the dividend will be maintained. 1 in every 7 of pension dividend in this country comes from the BP dividend.

On edit:- that particular article says - BP is the most important company on the UK stock market by a considerable margin. Roughly 1 in every 6 received in dividends by UK pension funds comes from BP, so a cut would have a severe impact on almost every saver in the land.

Up on the day (pre auction)!

-0.25p

It will have the odd spike here and there - every share does ! Its heading one way, down. Mind you so is everything else.

Tony Craze on wake up to money BBC 5 live this am again saying the fall is overdone and BP is a raging buy at the moment..eh hangon a minute I remember him saying the same re Marconi when they were 120p and a year later..1p.

Nothing is a raging BUY at the moment, Helmets on and get ready for the second 'crash' - This one could be worse than the last.

I agree nord the banks are due another crash anytime now bringing the whole market down with them.

Hammer formed today...eat your heart out Tony.

looks like a 3 er to me.....hammer that is..

Not good is it.

Looking right across the board , over the last 2 weeks the drop in all the market is scary, Time to cash in all my chips and wait a while - Can only see this getting worse and worse. There is absolutely no good news out there and things will only get even worse. The World economy is totally f***** Fact. Think we need a good old War to clear the decks.

Back in 2000 these were rated on a p/e of 52 whilst oil was at $25 a barrel. Justification being that they had "wealth in the ground". 10 years on, p/e ratio closer to 5 and oil 3x higher. Curious huh?