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BP plc Message Board

  • montgomerygator64 montgomerygator64 Jun 25, 2007 8:02 PM Flag

    Bought BP today


    It looks like BP is getting things turned around. I could have gotten BP cheaper 3 months ago, but I went with PTR at the time instead. PTR had a huge run, but a trailing stop triggered today which I set since it seems PTR hit a short term peak and has dropped a bit since last week. I bought PTR at $111 in March and sold today at $147.

    I have been studying BP in the meanwhile, and decided to take the PTR proceeds and plow it into BP for the energy portion of my portfolio. I see BP as a good turnaround story, as the new management cleans up the mess of the past. BP has also been showing strengh the last few days when the rest of the market was dropping (including PTR, down from its peak of $152), plus BP's excellent dividend and the low PE make it a value in the energy sector, even with its recent run the last couple of months.

    This chart shows how PTR has really outperformed compared to BP the last 3 months, so it was a good time to jump off PTR after its big run and take my profits, and invest that money into BP, since it still has room to keep on moving upwards.

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