BP

[jabber]

At what point does BP become a "buy" ?

They have recently dropped about 50% of their value, from around $60/share to around $30. Anybody thinking about it?

 

[WV Hunter]

I'd still be buying puts. We are not near the bottom for them.

 

[schmalts]

I am thinking, but it needs to go lower yet before I feel comfortable buying.

 

[sweetnectar]

I'd buy. If BP has that much oil comming from one hole just think if they sunk a few more in the area. They have deap pockets to cover much of the expences and I'm told they do have $15 billion available from lenders. I figure they can eventually get the leak fixed and I know they have a huge refinery just south of Miami...makes for a good place to ship all that cude.

 

[Big Slick]

I heard they got the leak fixed! They put a wedding ring over it and it quit putting out!

 

[Wyodeerhunter]

I figure they can eventually get the leak fixed and I know they have a huge refinery just south of Miami...makes for a good place to ship all that cude.

why ship it? Its floating that direction as I type.....

 

[----]

Leaked footage of BP's upper management
http://www.youtube.com/watch?v=2AAa0gd7ClM

 

[Dinkshooter]

why ship it? Its floating that direction as I type.....

You for sure ate paint chips as a kid huh?

 

[Dinkshooter]

Leaked footage of BP's upper management
http://www.youtube.com/watch?v=2AAa0gd7ClM

Nice find Randal, that is funny.

 

[mtmiller]

Dumped nearly 10% today.

 

[noharleyyet]

NJ avoids hit to pension fund from BP stock drop

The Associated Press

TRENTON, N.J. - New Jersey's pension system has been spared a big hit from the British Petroleum stock price drop following the Gulf oil spill.

That's because state portfolio managers made a fortuitous decision to sell off most of the state's $465 million position in BP shares before the April 20 explosion of the Deepwater Horizon drilling rig.

Treasury Department spokesman Andrew Pratt said the decision to sell the stock was made in January.

Pratt said it was based on oil price expectations, but he declined to elaborate.

Treasury figures indicate that New Jersey wound up its BP investment with a $5.5 million gain.

BP stock traded at more than $60 a share earlier this year but recently has been below $35.

 

[1_pointer]

Isn't what NJ did similar to what got Martha Stewart of jumpsuit?

 

[sweetnectar]

Randy 11 BWAHAHA that was great!

 

[schmalts]

well, i did not have the cash flow to buy in. Wish I had, i heard it went up 10% the day they got the cap on