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.

You still long Meldex and Jessops MrRSI tosser ?

BP up on open. Who is the tossor

my thoughts exactly, but you beat me to it!

Only 315p + 12p at the moment

4.52% up today is good considering more bad news for BP, work stopped due to bad weather. Wait till good news arrives.

Closed half @ 320.8 (two weeks target hit in half a trade - looking for 328 for the remainder of the position)

Club / cynic , no problem with anyone calling this up (or down) just don't like the rubbish Master RSI posts , he conveniently chooses to forget all his losers.

We all like to forget losers.

The bit that tickles me about the RSI master is he doesn't even use RSI to its best advantage ....

i don't need to be silly (i am naturally) or churlish (rarely), so i am just very pleased for the guy that he has called this one correctly ..... that said, i think that like the black market sardines, it's a share for trading rather than keeping

Have to agree with you cynic.

Gausie

re- The bit that tickles me about the RSI master is he doesn't even use RSI to its best advantage ....

What makes you think that, just look at the chart below from my thread "UPS" and naturally selected the shares to move higher the day before Monday 28th.

For those new to " Dill " ..... just remember is a STALKER from Wales, better known as sheep shagger, who does not know that shares are for TRADING.

The STALKER is back after shagging a few more Wales eves ..... and looking for new ones on any thread.

MRSI - You see RSI as a predictive oscillator indicating oversold conditions - you simply look at where it is in relation to the 20% (or 30% line). Novice traders use RSI heading upwards and crossing these lines as indicators of a bullish turn. How many false buy signals has RSI on BP rising from 20%ish given you over the past 3 months?

The difference this time is that RSI has been trending up whilst the share price has continued to trend down (see 3 month chart) - a phenomena known as "RSI Divergence" - that's where the real power in this indicator lies, and (combined with other confirmation signals) is what turned me bullish.

G

?

Clubby - excuse our gibberish - it's a brief diversion into charting gobbledeygook.

It simply means that the sextile formed between Venus and Saturn gives concrete expression to the likelihood of BP share price recovering a bit. Oh, and you'll meet a short dark stranger. Who cooks good thai food and has mail order boobs.

G

Gausie

oversold
But this time the RSI is together with the MACD and Slow Stochastic, plus the support at 300p


re - The difference this time is that RSI has been trending up whilst the share price has continued to trend down

RSI rising about 4 times during the past month and no much clear sign of the trending this time compare with the others on the chart

MRSI - you're just adding more indicators that are all derived from the same base data. A pointless exercise.

Take a look at the 3 month chart you'll see the RSI trend clear as day.

Support, Resistance, Volume, Trends and RSI Trend is all you need. Everything else serves to muddy the waters and make a simple job look complicated.

Oh, and what are the odds of Clubby's short dark stranger turning out to be a ladyboy?

I speak English and Thai but do not understand gobbledegook

From the Telegraph

Exxon or Shell should buy BP for 88bn, says analyst

BP'S share price fell by a further 2pc, after a prominent City expert suggested it should be bought by US rival Exxon Mobil in the wake of the Gulf of Mexico oil spill.

Fred Lucas, an energy analyst at JP Morgan Cazenove, speculated that Exxon or Shell could swoop on the beleagured British oil giant for approximately 88bn. Exxon is the most financially strong oil company, he said, adding that it could make a cash and stock offer while spinning off $50bn (33bn) of refining and marketing assets.

"We must emphasise," Mr Lucas adds in the note, "that this is our idea and it is only an idea."

The mooted 473p offer price is 30pc less than the 123bn the company was worth before the Deepwater Horizon rig exploded killing 11 men and triggering a catastrophic leak on April 20.

However, it is substantially more than the current 57bn market value of the oil giant, which has slipped from Britain's biggest company to the fifth behind Shell, HSBC, Vodafone and GlaxoSmithKline.

BP has already spent $2.65bn on the clean-up and committed $20bn to environmental compensation. The cost of additional lawsuits, pay-outs to Gulf Coast residents and punitive fines are likely to add many more billions to these bills.

BP's share price slipped 2pc to 302.9p yesterday, at one point dipping below the symbolic 300p mark, after weather forecasters warned that an area of tropical depression would turn into Hurricane Alex. The bad weather is already hampering efforts to capture oil coming from the leak and operations to clean up the growing slick off the southern US coast.

Oil skimming ships were sent back to Louisiana amid strong winds and big waves - although the storm itself will not hit the affected region. On Monday, BP said its plan to increase oil being captured has been delayed, but current equipment piping oil to the surface remains in place.

However, operations continued nearer to shore with a plan to remove up to 800 unhatched turtle eggs to protect the sea creatures from the effects of the oil.

Earlier in the day, a Facebook group calling on people to boycott oil from BP service stations was removed from the social networking website but later reinstated. It grew in size to almost 750,000 members after people thought the site was being censored.

Although BP claims it has only noticed a slight downturn in US sales, local petrol retailers claim the company is planning to give them financial relief of up to $70m in total.

The head of a trade group that represents distributors of BP gasoline in the US said the company is informing outlets that they will be getting cash, reductions in credit card fees and help with more national advertising. John Kleine of the BP Amoco Marketers Association said: "They are going to get a cheque. They're being given these dollars for use in their business."