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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: not_prudent who wrote (134881)	6/14/2010 12:20:23 PM
From: Salt'n'Peppa	2 Recommendations Read Replies (1) \| Respond to of 206181

I do not want to own BP so badly. I simply see a stock with absolute liquidity (good for daytrading), moving in insanely large dollar amounts, on totally irrational news pieces that have very little to do with the actual company. The BP decline to ~$30 is over for the most part. It is now range-bound. I will not short BP in the low $30's because I do not believe that is prudent. I will be buying on large down days though. Once the Macondo mess abates and the CNN, Fox and ABC cameras focus on the next story, the public will quickly forget BP and then the BP stock price will slowly climb back to "true value" which is probably double where it is today. "Until then why risk good money chasing something that is presently the leper of the industry?" That is exactly why I am chasing it. It won't be a leper for long. I am at a loss to understand why you don't see the opportunity there. In the meantime, there's money to be made in that hourly/daily/weekly chart. Your comments are most welcome. I never take it as "telling me what to do with my money". S&P

To: not_prudent who wrote (134881)	6/14/2010 6:00:41 PM
From: Elroy Jetson	Respond to of 206181

The real risk with BP stock is not their current well blow-out in the Gulf, that's well priced in. The problem is this "accident" has been one of a series of "accidents" which will continue to occur and devastate BP's reputation and finances. The real question is how much will it cost, and how long will it take, to restore BP's global plant and equipment and rebuild their management system so they are again operating as safely as other major oil firms. Some analysts have said Citibank faces a similar problem, with antiquated and incompatible computer systems and a weak management team which had been focused on short-term gains without effective risk management. Sure Citigroup seems like a bargain at $3.90 a share, but is that just buying you more bad surprises in the future? .