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.

He obviously holds a lot of BP shares?

hmmmm hard to tell..... .,.

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Let's all hope direction of stocks change soon. The UK seems to be fucked up. When I sold my clubs to Luminar in the late 90s the Inland Revenue estimated I would have to pay 40% of the gain which was substantial. I offered to settle at 20% they refused.
So I moved to Gibraltar and payed no tax at all. Now our new government seem to be hell bent on reducing benefits for cripples, and poverty stricken disabled, does not seem right.

Guys like Sir Philip Green evade most of their tax liability by living abroad and working in the UK

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nordcaperen

re - Anybody going Long on this must be insane.

I dont usualy come out at a loss on my investments I would say.

Now anyone with a name of - Ali Ali Akbar - in my books deserve to be on the MAD HOUSE maybe running the asylum if you insist.

I only trade around my systems, ... in all seriousness, using ( Master RSI ) patterns.

Your own Biography say it all ........ madness at its best or worst for some ..........

MoneyAM Username: nordcaperen
Real name: Ali Ali Akbar
Biography:Financial Advisor to Gordon Brown and his previous Labour Government. Made my first Million at the age of 14, smuggling illegal immigrants out of Vietnam. Now trade mainly for fun at one of the many Brothel come Casino's I own around the World, also engage in the odd Arms Shipment to keep head above water.

I don't blame the likes of green, and no Cynic not picking on him as Jewish, It is our tax system.

If you are British, and have any ties to the UK you should pay UK tax, not live in Monaco, and commute to UK to work.

Philip Green: "I do don't do fair"

Wide boy. Billionaire. Alleged tax evader. Top Shop tycoon Philip Green on his new NYC store, Kate Moss and spanking naughty journalists.

clubby - gibraltar seems to have some very strange non-dom rules surrounding it .... as i understand it, you can buy a very small flat there - or is it just a nameplate even? - but actually spend no time in it

if that is correct, the for sure that is one loophole that will be slammed shut very quickly ...... i have no prob at all with non-dom tax avoidance, but (if correct) then that is effectively evasion, albeit currently legit

CM

Listening to yout rantings over the past week or so I can only assume you are slowly losing the plot.

DealerI think slowly is being very diplomatic?

The golf sketch where the ball lands in sand on a moving train and he finished his round in darkness..classic.

The sp is for the first time showing some strength as it has not set a lower low despite so much doom and gloom about virtually everything and anything in the markets

Indeed the weekly charts are becoming a lot more encouraging as we could see a reversal pattern emerging very soon. Also worth noting is that the UK volumes are now significantly lower than what we have become accustomed to lately further indicating ( most likely ) that the sellers are running out of stock

i don't say your wrong, but it's a pretty brave call (either way) unless you are sat in front of a screen all day and are prepared to nickel and dime

Issues at the moment ......

NEGATIVE:

General sell off of equities resumes; the 'correction' to the 15 month rally may be deepening. Many reasons for this; all subject to change.

BP's US bonds are getting flogged mercilessly; firstly by the CDS (insurance) market and lately in by bond traders/investors. Quoting the FT:
"BP has the most shorted bond among US investment grade corporate issuers, and, unusually, more of its bonds are being borrowed for shorting than its shares." Obviously, this knocks on to the equity price.

The full extent of potential storm/hurricane disruption and the consequences of that is only now being factored in.

POSITIVE

Whilst there's no evidence that the incumbent US politicos expressed desire to lynch BP has been mollified, utterances have become more measured of late. It seems that BO in particular is persuaded that a ruin of BP is of itself decidedly undesirable from a US and especially Gulf regional perspective.

The progress with the relief wells continues to proceed ahead of schedule and it is possible (in the absence of disruption) that kill operations may proceed before end of July.

BP will already be preparing the ground for new strategies and ventures.
Perhaps the most interesting investigation:

"Tony Hayward, met with the head of Russian oil producer OAO Lukoil Holdings (LKOH.RS), Vagit Alekperov, Monday to discuss possible joint projects, the Russian company said Tuesday.
They talked about joint projects both in Russia and abroad, Lukoil said in a statement without giving further details.

Hayward and Alekperov also discussed lessons learned from BP's oil spill in the Gulf of Mexico."

Libya has recently given BP the green card regards future drilling there.

BP is not reliant upon the US, let alone deep sea wells in the Gulf of Mexico, for a successful future and unquantifiable as the costs of Macondo may be, BP ultimately has options to limit the consequence of these by what it decides to do with its US business unit which still has assets of greater worth (to others) than any sensible estimate of the Macondo liabilities.

that's pure rationalisation, and though fundamentally true, this stock will stay very unloved at least until this hole is finally blocked ..... that will give a quick fillip - from what level remains to be seen - but then counting the cost begins

Clubman3509

You have a large ( big or fat ) PIG on the 488 post

         LUNCH TIME FUN

Most UK working class would like pork on their Sunday roast

Very wide typical jew boy also slipping Kate Moss one.

Though the share price is at the moment just holding above 300p the futures on the US are moving higher at the moment from &27.05 to $27.17 that implies a price of 305p

link to BP. futures on the US .............. BP. futures

Down goes the Dow now below 10000 and headed South