Robert what your thesis is failing to take into account is a very very real possiblity that bp files bankruptcy. You keep focusing on them stopping the leak which is now at the pt were the damage has been done and thus the stock is not rallying even when news of containment is seen. claims could easily run into the 100's of billions. I'm very confident that bp does a prepackaged chapter 7 or 11 like texaco did when they lost the huge verdict.we're talking the destruction of millions of lives and the crushing of incomes and real estate.
They might file BK but it wont matter as I will not be around long enough to find out. As soon as the leak stops the stock will pop up into the mid 40s and I will be gone. It also doesn't have to be like texaco it could be more like Exxon. doesnt matter though, its all about the news
dream what you want robert as you've done nothing but bottom fish a falling knife all the way down from $50
Tough day as I really believed BP would kick out some good news today but I guess I was the only one who thought so There is not a lot to say about my trading today other than I am not real happy. I would have been wise to get out of the stock when I had a chance to get out with a medium loss but I thought after yesterdays sell off we would be due for a bounce. I could not be more wrong. It went from ugly to throw myself out of the window bad as the day went on. I tried to trade my way out of it but that doesnât work well when a stock only goes in one direction. I am going to write up about the stock BP and my thoughts but for now just the facts of the days trading. BP â 13358 now flat BP jun 50 puts â 3623 BP Jul 27.50P â 486 I still have a lot of these written GS jul130P â 87 RMBS + 68 RST + 24 TIE + 10 TIVO â 113 - 16994 I have a lot of naked options with BP wrote both puts and calls as the IV was over 100% for much of the day. The video feeds still give me hope that this is just a matter of waiting it out and the oil will stop leaking. Even with Mr. Hayward trying to do everything possible to slow the stopping of the leak. I have zero respect for him and after a month to still be sending ships that are now needed shows that there is no leadership worth 50 cents at the top levels. We need some Marine officers that are also oilmen to come in and take charge and about the only thing I can see from what I have read and know about the management of this operation is that perhaps Mr. Hayward could be of use by sending him down and using him to plug the hole in the pipeâ¦â¦
Are you a fundamental or Price trader? I remember when I penny stock traded and would read every development excited of how it would impact the price... Emotional (leading financial) investement in upcomming company events is for beginners. You could wake up any morning to a very nasty development. Whatever a company promises to do in the future should not impact your exit plan. There are other things to trade.
I am both but I mixed up the two with this one. I allowed an investment (should have stayed very small like I normally do) turn into to much of a trade. That has mostly been solved and I will be unwinding down the rest of my BP longs and shorts via options in the near future I would guess. Of course I will try to let the market let me know when the best time to do so it. Thanks and best to you Robert
It would appear that I was early on this trade and maybe I will be wrong as well. Time will tell Best to you Robert
I guess I did neither today with the stock. I will see shortly how my options that I wrote turns out. Best Robert