BP will hit $40 this week ending July 17

Disclosure: I have never traded BP and have no position on that so I believe maybe I can an honest opinion.

Success on cap installation and rush to recovery by shorts and good earning season will push BP toward $40. I don't know what price it will stabilize. I say, it will hit $40 this week ending July 17.

 

It is happening ....

 

Why should we care what you say if you don't even believe your own thesis enough to have a position?

 

I think the rumors about selling assets and Exxon requesting permission to bid on a BP takeover are pushing shares as much as the good progress on the cap replacement.

From what I've read, once the cap is on they are going to try to shut the valves and see if it can hold. If so then the leak is effectively stopped right then, with the relief well being the permanent solution later on. This pressure test (to see if the well bore leaks) could be very significant. Shorts are definitely in trouble right now.

Disclosure: Have a long position

 

Good point. Just read my points as an observer and nothing else.I am very disciplined. I only trade on stocks that I fully know. I have made over 107% so far this year. I don't want to chnage my strategy.
There is a high chance that BP will hit 40 but I am not 100% sure on that and there are some slight unknowns that makes me uncomfortable buying it.

My general recommendation on BP : Avoid

 

You think BP will have good earnings the next time they report?
Or will BP's price react positively to the broad market's good earnings?
So, you already have the opinion that we'll have good earnings?

 

It seems that this will be another golden advice by me. Look when I predicted that. I feel that I deserve the Golden Prediction award.

 

You can buy yourself one with your profits from the trade (hopefully).

Nice call.

 

I mentioned in my first post that I don't trade BP so I was not attached to it in either direction so I believe my brain was working on that.

 

Nice job OP.