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.

Watching now for signs of overboughtness/weakness and a potential opportunity to short.

Buying has not even started yet, just dribbles wait till buying really starts.

i'm now out completely at 367.5, which is fine by me ..... may dabble again in due course

Resisted the temptation to short from 370 - am off to USA on a daytime flight tomorrow so won't be able to keep an eye on it.

My guess is they'll return to around 370/380 and hover there for a while before coming back to 350/330. After that the next major move could be in either direction - it's anyone's guess.

I hope the pilot is pissed!

He will be if he was long MDX.

a big jump in a couple seconds from less the 367p to 369p

someone must have close a LARGE short, or closing the GAP of earlier fall from 371p to 367p

Deep water horizon response TO top kill

Q: Hi, Admiral. Some of the contractors are saying that they are very close and that at this point they actually have located the wellbore, they're within several feet. Can you talk to us about what progress they have done since the last update?

ADMIRAL ALLEN: I believe they are at about 15 feet away from the wellbore at this time. Yesterday, they had about 264 feet to go. I've been out here on the drill rigs today, so I'm not up to date on the progress. My guess is they're closing in on about 200 feet, maybe 225 feet yet to go.

This is a very slow, precise process, where they drill only 15 or 20 feet at a time, and then they put the wire down to test the magnetic field. You are correct. They are very, very close. But these last several hundred feet can take sometimes a week to make sure they get this right, because when they go to penetrate it, as you know, this has to be an exact drill into the wellbore.

Q: So as a follow-up, you said yesterday it looks like it's about a week ahead of schedule. Where do you think we are now? There are some reports that maybe within a couple of weeks they will reach their target.

ADMIRAL ALLEN: The time it will take to do thisthe reason it is unknown right now and I'm not willing to come off the mid-August deadline is, if they have to pump mud up through the annulus and then go into the pipe and pump mud there, too, that's a period of seven, 10 days to accomplish both of those things. And if they have to be done in sequence because of the condition of the wellbore when they go in, it will probably take into August, so we're looking at optimal conditions on what they find when they penetrate the wellbore.

So while it's nice to be slightly ahead of schedule, I'm sticking to the middle of August, because we don't know the condition of the wellbore until we penetrate her.

deep water horizon response

Live feeds from remotely operated vehicles (ROV)
Live video feeds (ROV)


OLD - 'Top Kill' LIVE feed: BP says oil spill stopped - on 27 - 05 - 2010

Top Kill live feed

ADRs = $33.56 at london close ..... and closed in NY at $33.74 which won't set the world on fire, but Dow was up another 120 which will push things along nicely

ADRs = $33.80 at close, something for tomorrow morning 1% = 370.50p

the price recovery as indicated by the rsi divergance has now materialised. i would really like to be in for the long term recovery but feel unable to do so. the reason being that this recovery rally has "left behind" a daily "gap" in price.that may or may not prove to be significant, only time will tell. i am just not confident in buying for a long term investment when this gap is sitting there. just look at the daily gap in petrofac.who could believe that that would ever get filled? but it did and then what happened? as always just my opinion and dyor.
regards and good luck.
jkd

371p now and starting to rise

Took my profits

sold at 369.50p, it seems the market and BP has been reaching highs on the SLOW STOCHASTIC and on top it seems like a double top on the last couple days fo BP.

a 21% return on the T+ 20 is not bad on 9 trading days ( Close on a T+11 )

A chart made 10 minutes ago, showing what I said on the above post

probably a smart move with "profit taking friday" now with us

Friday is a great day for making money. Just go short

Looks like is going to finish down on the day, now 362.65p - 4.30p

and the $32.80 -0.94 -2.79%

ADRs $33.14 as i write

and $34.05 at close = goody goody for monday though that prob only equates to +3/5p, but better may be in store as dow +59

BP up 5.51% this morning