And now it is your turn to play The BP Price Is Right. Show us your stuff. Who can best forecast the NYSE closing price for BP on Friday, September 2006? The deadline for your submission is US market close on Monday, Friday, September 8, 2006 . Just respond to this e-mail with your forecast - and if you dare, give us a couple words on why.
We have 21 contestants in this month�s edition of The BP Price Is Right. The forecast mean comes in at $67.6/shr. Quite a drop from a month ago when the forecast mean was $72.2. Our fearless forecasters cited a drop in crude prices, bad press, end-of-summer ho hum, and skittish mutual fund managers as the primary reasons for the price decline.
Leading the Bears this week is will_due_bill_slt with an end-of-month forecast of 63.15. Pfolioman said �the low could be $57.� That sounded more like a buy target than an end-of-month forecast. Show us some commitment pfileman! The Bulls were lead by silverbadger . . . again . . . bless his heart . . . with a forecast of 75.57. Even silver�s optimism has been dashed of late as he has dropped his forecasts from the 80�s to the mid 70�s. Piconerd, our winner last month, forecasts a price well below the mean with his entry of $64/shr.
Best of luck to all. May the best forecaster win, and if not, may Silverbadger win.
No change - $65.50. BP's fundamentals have not changed one whit throughout all the recent events, so this has to be a buying opportunity.
Nice to be back - anything happen while I was away?
BP's in the headlines for the first part of the month, then the investors/institutions (being short in the memory department) rediscover the majors and bp is dragged up for a 3% monthly gain. All this, of course, only if BP keeps doing the right thing, and Malone establishes credibility with employees and investors...oh, and no more 'shooting-itself-in-thefoot-blunders'.