(BP-.L) BP PLC Buy/Sell

Jack

It's a phenonema with iii. It's the same for all those EPIC tickers that end with a full stop; SL. AV. etc.
iii use the hyphen to make it clear that it's a three character code, rather than a two character one.

It's caught me out a few times too!

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I find the Technical Insight tool above very useful on occasions. However, it has not been accessible on BP for sometime. I have just discovered that the ticker symbol is incorrect.If you delete - (the dash),then the information comes up. Amazing !

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A large number of the tipsters are all saying the same thing. It has moved too high too fast. However I do not think this is a deat cat bounce I dont believe we will see 4000 again. I do think we could see 4500. We are heading into election time and markets dont like the unknown. If I were certain of all this I would sell a lot more, hoping to buy back later. After all with trackers in a fund its easy to do and there is no buy sell margin.

However the story in the mail this morning about the oil tankers waiting for a higher price, i thinks is rubbish. I think the oil tankers are out there because theres no room to store the oil on land. With petrol moving higher and higher everyone must be watching their mileage. I have noticed a lot more drivers moving in the slow lane on the M1.
Will Gold go to $1500?

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Does not seem to be any comment in this information from Tuesday. Dana issued a positive interim statement this morning and SP is currently around 1300p. Anyone think that BP would see Dana as a potential buyout opportunity. Have been considering toping up in BP at 585p, currently holding.

LONDON, Nov 17 (Reuters) - Shares in Dana Petroleum rose more than 4 percent on Tuesday on market talk that BP was interested in the company, traders said.
Traders cited talk of a bid interest of 1,700-1,800 pence per Dana share. At 1138 GMT, the stock was quoted at 1,316 pence.
Both BP and Dana Petroleum declined to comment on the talk.
Nearly 850,000 Dana shares changed hands by 1145 GMT, against a 90-day daily average of 640,000 shares.


(Reporting by Atul Prakash, Blaise Robinson, Tyler Sitte and Julie Crust) Keywords: DANAPETROLEUM SHARES/ (atul.prakash@reuters.com; +44 20

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Is $6,300 fair value for gold?
http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100002059/is-6300-fair-value-for-gold/

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Société Générale tells clients how to prepare for 'global collapse'
Société Générale has advised clients to be ready for a possible "global economic collapse" over the next two years, mapping a strategy of defensive investments to avoid wealth destruction.

http://www.telegraph.co.uk/finance/economics/6599281/Societe-Generale-tells-clients-how-to-prepare-for-global-collapse.html

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I'm the same as you as far as crystal balls, history and common sense but I fail to follow your logic that a correction is due. You have to set the current Bull market against the lows to which the market sank in the panic over selling that took place at the start of this recession. So many companies were over sold and are now still under valued IMHO. I only wish I had more ready cash because there are plenty of opportunities still around including this share.
The footsie rose continually from early 2003 to mid 2007 so for say 4.5 years we had a bull run. This time it has moved up continuously for barely a year so why do you think a correction is due? Yes there may be fluctuations but I see no good reason for the overall trend not to continue upwards at least until the share prices reflect companies assets which is all the present market is doing, boosted by the occasional rare piece of good economic news and in BP's case the inevitable longer term rise in the oil price and new discoveries.

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davala,
i haven't done the calculations but i'd imagine if you include the dividend payments, bp is probably more or less in line with ftse100 growth.
i agree with you about a correction though-i'm just not sure it'll be as soon as you state.
the cental bank has cut interest rates effectively to nothing so there's no merit in holding cash.
the government has spent 98% of its qe budget on government bonds creating a massive asset bubble. yields have in turn plummeted so again, why would anyone move into govvie bonds when the price is set to tank as soon as the government start unwinding its position. the falling yeilds from gov bonds has had a knock on effect on corporates too.divis on major stocks is only a few basis points lower than the bonds they're offering with the upside of capital gains.
i think you're 100% right about being ready for a correction-we've seen the stongest bull run in over 2 decades with little change in the economy but i don't think the collapse will really take effect until investors have a choice of somewhere else to put their money.
be interested to hear any thoughts you may have.
sl

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I dont use crystal balls. I use history and common sense. This market has moved up from 3500 more or less without any correction and a correction is due. It has moved up too far and too fast. BP has not moved up as quickly ( compare the ftse 100 with BP and BP is lagging behind for the most recent period).The lst results were poor compared to the same from 2008, the share moved up because they were not as bad as the market expected.
I said that the share would see £5 before £6 and despite the market continuing to move up, we have still not seen £6.
I still hold these in two years ISAs, but these were boght in at £4.44 and I keep them as a long term investment. I also purchased 5500 shares at £4.97 which I sold out at £5.58, clearly too soon, I dont have a crystal ball!
Its the marekt leader. I hold them as part of my Index investment, my pension fund and heaven knows probably in all or most of my unit and investments funds. i want them to do well . I want them to flourish and continue to pay generous dividends.
But no market goes up in a straight line and this market is set for a fall, at least back to 4500. BP will fall in line and I will re-invest then.

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China has now become the biggest risk to the world economy
Far from taking over as the engine of growth from an exhausted West, China is making matters worse. Its "beggar-thy-neighbour" policies continue to play havoc with global trade and risk tipping the world into a second leg of the Great Recession.

http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/6575883/China-has-now-become-the-biggest-risk-to-the-world-economy.html

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The Dollar is Dead Meat
Bill Bonner - Mon 16 Nov, 2009
In the short run, it might have enough life in it to bite investors on the derrière


London , England

We got back from South America on Friday... ready for a rest. So, we spent the weekend reading... and occasionally, thinking.

What we’ve been thinking is that the dollar is dead meat in the long run. But in the short run, it might have enough life in it to bite investors on the derrière.

The US stock market rose 73 points on Friday, to bring the Dow just 30 points south of the 10,300 mark. Why is this level important? It’s not really. But it reminds us that this is still just in “bounce range.” Big drops in stock prices are followed by bounces – always. A bounce of 50% of what was lost is not unusual. That’s what happened after the Crash of ’29, for example. So, there’s nothing exceptional about what we’re seeing on Wall Street.

But here at the Daily Reckoning we’re not smart enough or fast enough to play the countertrends. We want investment positions that we can ignore for years... We want to be able to go on a long trip... say, down the Inca Road or over the Hindu Kush. And when we come back, we want to find that we have at least as much money as when we left.

If stock market buyers – in the US – have more money a year from now than they have now, we’ll be surprised. The private sector is still more than 2/3rds of the economy. And the private sector has begun de-leveraging. Nothing that has happened in the last 8 months makes us think that that trend is going to reverse any time soon. There are 70 million baby boomers who need money for retirement. They’ve got to save. That means cutting back on spending. And that means less income for business. Are stock prices really going to go up when business income is going down? No.

We leave our “Crash Alert” flag flying, here at the worldwide headquarters. We don’t know when... or IF... stock prices will crash. But the downside risk is not worth the possible upside. Daily Reckoning readers should be out of all US stocks, except those they wouldn’t mind holding through a 50% correction.

read on



http://www.dailyreckoning.co.uk/currency-trading/us-dollar-collapse-65135.html

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See RNS. Good news.

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What does happen next ? Are you another person buying shares in crystal balls plc ?

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The whole market has risen from 3500 to over 5200 almost in a stright line/
What usually happens next?

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BP on the up and up:
http://www.biancatrends.com/BP.html

past performance may not be a guide to future performance... but it's encouraging if you own the shares.

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thanks each of you for your posts - a helpful board!
grattons

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8.512 to be precise. to be paid 7th dec. the recent weakness in the dollar obviously hasn't helped here.
sl

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BP dividends are designated in dollars being as the ordinary shares are 0.50 dollar shares and thus suseptible to the foreign exchange rate.

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is the divi going down or is it simply the £/$ exchange rate - last three have been 9.82 9.58 and 8.5

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8p. technically should open lower by 8p
sl

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