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.

Job claims up in Septic land, down goes the FTSE and the Dow looks like big down on opening.

UP goes BP and reaching 330p again

Cynic must have been down the Synagogue praying for it to rise.

Had a Synagogue in my old home town, had to close some customers were nicking the copper from the roof, now a rave club, lots more punters.

hi clubby ..... i am actually long of bp at 317.25 in a fairly modest way ... as we speak, sp is 331 and climbing

dow is looking to drop a further +/-20 points at the one, but i suspect rally from that dangerous 9700'ish level may well be on the cards

Hope you are right mate.

I have changed my view from earlier this morning, I think on US open we may see upward movement later, just have a feeling.

BP now top riser on FTSE 100

Has reached earlier to 338.30p and again some profit taking this could be close to 50% 328p of the gain from 321p to 338.30p 17.30p

       

All this volatile trading is doing my head in. Yesterday my Mrs complained I went out to Starbucks (My daily outside perch to watch the pussy go by) with my tshirt on back to front, and today while giving her the daily service I had my underpants on back to front.

US Market opening slightly UP ( 9 points now)

Snakes On A Plane? No, They're Maggots

only to give her easier access to you with her strap-on!

Wow Cynic look at the Dow tank and here goes the FTSE same way

the fight for dow is NOT to tumble sharply through 9700 and ftse through 4800

Stumped, could be a good buying oppertunity but Friday is near.

on the US ADR at $29.95 +$1.05 or 3.50% UP

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

From Market Watch ...........

A Dow Theory sell signal?
Commentary: Dow industrials and transports at new correction lows

At least according to some interpretations of the venerable Dow Theory, a bear-market signal was generated at Wednesday's close, when both the Dow Jones Industrial Average /quotes/comstock/10w!i:dji/delayed (DJIA 9,646, -127.80, -1.31%) and the Dow Jones Transportation Average /quotes/comstock/10w!i:djt (DJT 3,923, -85.31, -2.13%) closed below their previous correction lows of early June.

This interpretation appears to be the one favored by two of the Dow Theorists tracked by the Hulbert Financial Digest: Jack Schannep, from TheDowTheory.com, and Richard Moroney, of Dow Theory Forecasts.

The third Dow Theorist that the Hulbert Financial Digest identified as having already turned bearish, and so today's action is mere confirmation of that bearish trend. He is Richard Russell, editor of Dow Theory Letters.

In addition to previously concluding that the Dow Theory was bearish, Russell also has indicated that he would view a Dow close below 9,800 as being bearish according to another technical analysis formation: the so-called head and shoulders. That occurred Wednesday, of course, with the Dow closing at the 9,774 level.

Earlier this week, Russell wrote that the breaking of the head-and-shoulders formation would have very bearish consequences: "All previous plans, scenarios and strategies will hit a stone wall. Wall Street and public sentiment will turn black-bearish. Consumers will head for the storm cellars, and, once in, they'll shut the door above them and lock it."

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they tell me Clubby always has a thorough colonic beforehand .... no, not a gin and colonic you ass!

Clubby does not drink puffter's drinks like gin, he drinks Bud

Have you checked the oil, and tyres on the transit Cynic.

From the Telegraph..........

China could swoop on $9bn of BP's assets in South America, as the oil giant looks to raise money to pay for its giant Gulf of Mexico oil spill. The British energy major, whose share price rose 3pc yesterday, is understood to be in talks with the state-owned China National Offshore Oil Corporation (CNOOC) about selling its 60pc stake in Pan America. BP is looking to sell $10bn of non-core exploration and production assets, so this potential disposal would mean it would almost hit this target in a single transaction

From Market report this morning .........

Troubled oil producer BP slipped 3.1p at 324.85p on reports it is to off-load South American assets to China to raise 9bn.