I keep an 80/20 rule with any precious metals. 80% I physically have, 20% paper. That 20% allows me quick trades. This method may not work for everyone but it works great for me.

It's not just gold, I also have an enormous stockpile of seeds, wheat, whole grains and some other bulk foods. I should take a photo and show you, you would fall over laughing. Imagine a rooms the size of a 2 car garage almost totally filled with 6-gallon storage buckets full of this. Maybe a bit obsessive but I believe in the event of a true global or even domestic collapse, my food supply and seeds are going to be worth more than any amount of metal I may have. I also have a well with a hand pump and a good water filter. I consider myself a survivalist and enjoy the aspect of preparation and educating others on it.

If you are limited in space or live in an urban environment, Google "Depression Garden" and see what you can grow in a small area. You'd be surprised.

I can even teach you how to fortify your home, how to do little things to make it more secure to stop those who want what you have. How to defend your home and protect you family. Lots of things you can do. Been thinking of writing a survival ebook but I don't think there is enough interest in the subject just yet.

BP will not go under. Whatever amount they are forced to pay is peanuts to what they earn in a year.

OK this was funny. I give you credit

The downside potential is far bigger than the upside. No way BP is going to snap back any time soon. On the upside you would be limited to 20 or 30% as I see it. Puts to the downside of 10$ or so can make you a fortune when the company files for bankruptcy on the other hand.

No thanks. People think this is just another Exxon. Wrong!

The book value is $30+ for christ sake, it aint going BKrupt.

When fear is at its peak, that's the time to buy. This company is solid, look beyond this one event.

I remember seeing 2010 earnings estimates around 20-30 bil., and this escrow will be paid into slowly. Plus they don't plan on paying dividends until 2011.
It's trading at a 4 PE atm!

It is a falling knife, but daily and hourly technicals have turned. Looking for a big enough bounce to turn the weekly and monthly charts!

disclaimer: Bought 1,000 shares at $30.50 last night, stop set at $30.63. At this point, can't lose 8^)

Good luck to everyone whos holding long, and I hope everyone who's effected by this gets a fat chunk of that 20 bil.

You guys need to stop watching the media on this. They are not going under. Not gonna happen. Turn off the TV and do your own research on the company and how much money they have and earn every quarter. They print money.

If you are only relying on the media for your info, you are only getting a very small percent of what is going on.

I bought 10,000 shares at $29.00. Right now it's $32 and raising. It will probably drop a few more times but then its going up up up up away.

You guys are missing the boat.

LOL

you are going to go broke

No you are going to miss out. :2 cents:

I could sell right now with an already made a profit of 30k. It may drop again after the CEO gets grilled today but it will come back up. It will be a slow and steady growth and within 2 years or less, it will be back where it was.

That's bs dude, chances that you happen to buy at the 52 week low is like one in a million
It's a good stock, worth buying even now at 32, but why bullshit people like that? :helpme

For starters, it was no surprise that it was dropping. I didn't need CNN to tell me that their stock was going to fall.

That's how the game is played dood. This is how I make my money. Been watching BP stock since the DAY the rig exploded. If someone is a serious player in this game they watch everything, this is how to know when to buy and sell. THAT is how the game is played. I watch my picks DAILY, several times a day. I read about 20 different news sources daily as well. That is part of the gig.

Just because I post on a sex board you think it's impossible for me to buy when they were at an all time low? More like because we are on a sex board is why you think in that manner.

It could be that you post on a sex board, or maybe it's because your name is Mr. Cool Ice, or maybe it's because you use Mr. Cool Ice's picture in your avatar, or it could be that you store up seeds and crap because you think the Country is going to fail which makes you crazy.

Just saying... I would guess people have several reasons to think you're bullshitting. Maybe take some pictures of yourself next to your gold and seeds, then people probably wouldn't think it was impossible.

please post a picture of this. Its sounds amazing

Yeah, he shot himself in the foot right there. No fucking way he caught it at the low.

When BP is at $10 bucks a share by the end of the summer and this gets bumped, he'll say he dumped it at $31 and made a $20k dollar profit :1orglaugh

My dad picked some up that low. Old bastard won't stop talking about it, but that's how he makes his living.

I don't see what the big deal is. Those who watch the markets around the clock do this sort of thing. You do realize their are online resources that tracks stocks minute by minute don't you?

I read a post from the OP when gold was around 600 and he said it was probably gonna hit 1500. Almost everyone LOLd and now it's pushing 1300. Some people get it, some don't. I'm not one who does but I've watched my dad make insane amounts of money (and lose a lot too). The way he explained it to me is that when you play with large numbers you don't need enormousness fluctuations to make a big profit, or a loss.

Again I don't see the problem. If he dumps it and makes 20,000 dollars, whats the deal? Isn't that the idea? Or are you guys so painted into a corner of porn failure and small change that you can't comprehend true success?

Don't understand haters when someone is trying to help them make money. Very strange thing.

It's not really that hard to catch a stock on it's 52 week low. Most people following a stock make more than one purchase, so sure you bought on the low, but maybe you averaged down.. And honestly, it's not that hard, especially during a crisis.. I did it at least twice last year thanks to March '09s epic shitness, I did it again a month ago during the Thai crisis.
Also on this occasion 29 is a psychological barrier having just broken 30 into the "20's". It's one of those "$1.99 isn't $2" things. You might think that's silly but when people are selling you very often see incredible depths on the round figures, that might be 2c on a 1.8c share moving up or 20 on an 18 dollar share. People don't like to sell for 29 because it's not $30, conversely they like to buy at 29 because it's not $30. It's only a slight tendency but I can completely believe that someone that might have been holding off buying (or averaging down) through to mid to low 30's would finally hit the trigger on on $29... Also, maybe there was massive and building support at 28/29 and sellers getting thin at 30 and it looked like things were turning around? *shrugs* Finally, you make enough trades and you're going to get lucky. If you've never traded before and you buy one stock at it's yearly low and never buy another again, fine, thats pretty good, but what does your average investor (as opposed to day trader) do a year.. 20-50 trades? A broken clock is right twice a day, if you don't buy on a yearly low at least once every 5 years you're probably not doing enough trades ;)

the UK share price is currently up 11% on Wednesday's price.

True
 

I just purchased 2 shares at 31.23. What do I do now... when will they send me a fat check?

might be worth buying now

BUY BUY BUY (i take all my financial advice from this man)

I doubt he did, traders always exaggerate when they bought it and how much profit they make... not only did he pick the right day, he also picked the exact lowest price of the year too? why 29? why not 28.50? or 29.50? or 39 a week earlier? It's plausible I guess, but chances that he would buy it at a 52 week low is really 1 in a million... :2 cents:

Curious myself after reading your post I just called my dad and asked him this. He laughed at me and said that depending on what online system or broker someone uses, he could have set it or told them to buy at exactly 29. He also said he could be rounding up or rounding down for the sake of conversation.

yea, you can set a "limit" order, you specify a price and when it hits that price the stock gets bought... the problem is why 29? why not 30? or 33? 35? or 39? If he really bought at 29.50 and just called it "29", that's I guess close enough and very possible, but a bit misleading... I would have called it "under 30", or "around 29" though...

I am in Thailand I buy gold every time when I get my paycheck but is gold in my hand not some piece of paper saying I own xx ounces of gold.

When BP hits $19 I am hitting it like newly released death row inmate freed by a DNA test.

thats not Illuminati. It's called big business and gloablization and its coming whether you like it or not. And not all things associated with it are not doom and gloom. Your pegging theory is simplistic and arrogant, like you i guess.

I just need to get you and my old man on the horn together.

I called him again and said, "dad guys on the internet are asking questions again." He told me to get real job and laughed at me again.

Anyways he said 29 is better than 30 because non experienced traders will go on 30. "Buy when it drops below 30". He then gave me some long winded reason why people do this, why it is better and I told him to stop. All over my head. Though he said the guy probably didn't but at exactly at $29.00 unless he said to buy AT 29 or anything lower.

OP --- I'm tired of calling my dad. Please explain yourself.

You missed the point. I think he is full of shit and saying things after the fact.

I have owned 200 oz of gold since is was 585 and have held it for over 2 years.

I have no idea if he is full of shit on this stock or not. I just take him a little serious because he called gold to go over 1000 back when it was 600 and he was right on the money. I remember a lot of people laughing at him then, pretty much like they are now.

I also keep in mind that if any of you were actually half way good at investing anything at all, you would not be in porn because lets face of it, most of the people here are just getting by. There are only a handful of very wealthy porn guys and most of them are not posting on GFY. :2 cents:

:1orglaugh

Yup, many many people were but that's not why i bought it. I bought just in case my accounts were ever frozen or the banks collapsed and to diversify some of my holdings.


Also, I never claimed to be an investing wiz just calling this guy on his bullshit man. I wouldn't consider myself "very wealthy" but I have made a decent amount in adult and i'm worth a few mill. I still run my sites and post on here :2 cents:

http://neptune.spaceports.com/~queen...ing_Places.jpg

This guy knows ...

52 week low today.

sell it and eat a 6 dollar loss :upsidedow

amazing how people fret about the way wall street makes its money, but its AOK to buy into BP.

But morals aside, the big risk to the stock is the possibility of 200 million gallons of oil storm surging into the southeastern states. A black hurricane will most definitely put BP out of business.

That would be justice, as BP should be put to death just on principle.

Fuck, now I can't by that yacht I have been looking at? Fuck you ice man!!!!!!!!!!!!! I am ruined:1orglaugh

There are just so many variables on this trade. Obama could keep criticizing the company to look like a big man in the lead up to the election or there could be a monster storm etc, or neither of these things could happen and the general economy could just keep tanking.

Also, when you criticize BP remember that they are drilling the stuff you use. If you don't like deep water drilling, perhaps you should consider cutting consumption or buying an electric car.

Fuck I'll make you $100 million a year for a few paltry visitors
you'd rather take a 50/50 bet to maybe double your money on BP?