I haven't ready this thread (lolz way too lazy) but I hope the people that are buying BP stock currently understand the crisis that is peak oil. Save your money. Trust me.

Edit; well now that I think about it peak oil could possibly benefit BP in regards to stocks, but eventually it will crumble (less than 20 years if I had to guess). I guess its too soon to really know. :)

Peak oil was being debated 20 years ago and guess what happened in that time?

BP stock is pushing through new lows today.

Wahahahahahahahahaha!

Mr Ice are you still holding?

I bought a ton at 29.79 and dropped 1/2 of what I was holding on the 12th at 33.97 by luck right before it took a nose dive. Pure luck.

Was able to cover my investment and make a little profit on that so when it dropped even more I picked up some up again on the 16th at 29.94. I'm going to leave the rest in and ride it out. I'll pick up more if it hits $25 but as of now I'm going to consider this a long term investment and focus on other trades. It's going to be a while before this goes back up to where it needs to go, but it will go I am sure.

this will go up in future, must be when oil hit historical biggest price on world :)

errr edit nevermind.

I know it sounds crazy this company could go belly up but let's remember lehman bear sterns etc

Peak oil, lol. They have been preaching that for 25 yrs now.:error

Question is......... what will be the turning point in the share price?

Right now the well is still leaking and I think the share price will retain downward pressure at least until its been capped but the market is also bearish for other reasons which gives this even more downward momentum. We also have the possibility of hurricane season. So whats the turning point?

Capping the well? Or more information on the penalties/fines/costs/legal implications?

We used up more of a clearly finite resource?

Regarding the title of this thread. Never take financial advice on a forum.

Of course they can. That's part of the game.

1. It's only dropped by half. So what's the plan, buy now and hopefully double your money? That's certainly no way to get rich.

2. This spill will be going until at least August. Period. So there's no point in buy before then. Specially when come August the stock could TANK if the relief wells don't work. Let alone there is a crazy high chance of worse than normal hurricane season. So the stocks will tank even more if one washes all that shit ashore.

...common sense

Share price wont return to former glory for a long time so you shouldnt count on that for a while.

i can afford just a little peace... :)

i feel so dirty even thinking about buying stock in BP, but i cant say that im not thinking about it :(

20.10 so far as a high today. Talks of Exxon taking over.

i will, thank you

Don't say I didn't tell you so. Hope some of you got in when it was at a low.

It's up and rising!!!!

Um, that oil has become that hard to find companies have to build billion dollar deep sea rigs that drill deeper than anyone thought possible 20 years ago and risk causing uncappable spills that almost destroy them just to find it? That thing that happened in that time?

bullshit

as soon as they cap that well, BP will fly, 40% of the company is owned by american shareholders and in excess of that UK. this company is huge, and the worlds best at finding difficult oil spots.

you are a mug if you think this company is going down, or think it wont hit huge profits again very fast.

this is a great buy at the moment.

natasha

Once the cleanup costs hit and the legal action crushes them and Americans start dying from this..... then the stock is going to fail when they have zero money left.

Im going to go ahead and bump this thread for the simple fact this dude was on the money (for now at least :) )

Best bump ever

Wanted to thank that guy who posted this thread.. I took 10 dollars from this stock bought at 27 and sold at 37, amount of 10k units :) :thumbsup

If it will go down again at 27-29 I'll go for another round.

Of course but right now, those who bought made cash :2 cents:
I didn't has i'm a chicken :Oh crap

The OP nailed the price of gold too back when it was at 700 or so. I think he said it would hit 1500 (it only hit 1200) but from 700 to 1200, that is a heck of a leap and prediction. I thought he was NUTS for saying that and he was right. Now he was right about BP stock.

I didn't listen to him twice and twice I lost out. :Oh crap

Related to Paul the octopus maybe? :1orglaugh

June 10th = $32.78
January 5th = $46.50

Good call...Wish I got in on the rare earth run that is going on in Canada right now...Most of these stocks are up a couple hundred percent since June :S

I bought it at some $28... good call :thumbsup

wish i would of dumped more in, but when i get greedy, i lose the most amount :1orglaugh

you guys still holding it? They will probably start paying dividends soon, and when that happens, chi-ching, will easily go back well into the 50s by this summer...

+ economy is recovering, oil prices are rising, not a bad investment even now, could easily still score 15-20% return in 6 months...

mr cool ice is always right!