BP's estimates of 5,000 gallons is ABSOLUTELY wrong.
His initial estimate 70,000 barrels roughly 3,000,000 gallons is closer to the truth.
Other scientists have come up with estimates overlapping each other.
Range 20,000 barrels to 100,000 barrels.
They are working on new models and later on tonight they will come up with the updated numbers but not release it just yet! Probably will et the government see the numbers before they piss people off more.
REGARDLESS whose numbers you go by it is a LOT OF OIL...
This is what this discussion is about. Let's not forget we are not talking about how much oil is in the Gulf, we are talking about how much MORE oil will be in The Gulf before they cap it, IF hey can cap it.
you need to cover it for them if you still own it then. Listen, you've been exposed as a fraud, even if you have a position, which i doubt since you didn't even know what is involved in holding a position short , you are clearly clueless. You don't offer any facts or real data such as financial statements, operating costs, margins, refinery data...etc.. You spit back what the talking heads tell you on your information box (that's your TV)....On NBC tonight, they showe A dead bird, as in, ONE, on the shore. That's horrible, don't get me wrong, but don't you think it's possible the media is overhyping this....
Do us all a favor, when you get margined out, and you will since you don't know what your'e doing, stop posting here because you're pissed you lost 500 bucks on your 100 share short position.
"MAllen, if you were not short the stock on May 5th you do not owe the dividend. That was the ex-date, it does not matter when they pay it.
If you stay short until the next dividend date, you will owe it, but you said you were in this for the trade anyway, so I probably will not matter to you."
No I was NT short on May 5th.
I am normally never short on anything. If I feel strongly about something negatively, I will play with PUTS and limit my losses. Normally I don't have the stomach (read balls) to short stocks because I do not like the upside of things.
I began shorting this right about the time you went long. I am in and out of it frequently.
MAllen, if you were not short the stock on May 5th you do not owe the dividend. That was the ex-date, it does not matter when they pay it.
If you stay short until the next dividend date, you will owe it, but you said you were in this for the trade anyway, so I probably will not matter to you.
I really do not know how much it will cost to clean it up, though I do know it will be a BUNCH, all I am saying is they will have the potential for a lot of revenues coming in if the good professor is right once this gets capped and the dust settles.
For all I know it might have been figured out already by the market and it is why this has stablized a little.
truth be told, you're profit would be cut in half with a div payment probably, assuming it didn't rise going to into the ex-date( that's the date that you have to own it to get the div). Traditionally shorts cover before this date to avoid paying the DIV and profits are lost int he process. But you know that, you're an expert trader,so much so you've traded short twice in 10 years.....right...
The grouper are calling. I suggest you answer
You might be short 100 shares and you're hitting refresh every 30 seconds to see the latest price..
"Not surprisingly, you have no clue....When you short a stock (are you paying attention?), you borrow the shares from someone who actually has them (i.e. me) because you are selling something you don't own. When the dividend comes due, YOU have to pay the DIV on the shares you borrowed to the (person) you borrowed from... So sell before the ex-date or pay the dividend, which you CLEARLY didn't know because, how did you say it..."I'm a dumb SOB living in Florida"....exactly...Anyone else not know you are responsible for the DIV when you short like this idiot???LMAO"
Please READ before you post!
I think it is somewhat safe to ASSUME even the dumb SOB living in FLorida KNOWS THAT!!
Jaysus.... You must think of me as red meat!
BTW, STILL the company pays the dividend. NOT ME.
If it was up to me I would cancel the dividend. Yes the company pays it..
"he knows that, he's smart LMAO"
Do the poster on this MB require a -SARCASM-Disclosure every time someone posts with their tongue firmly in their cheek?
C;mon guys You are disappointing me. I really thought some of you in here were smarter than that. Especially those of you who already figured out how to turn your caps off.
Don't tell me I am giving you more credit than you deserve.
I trade frequently enough I may or may not have my position when that day comes.
IF BP goes BK during that time, do I still have to pay you a dividend?
What if BP cancels the dividend at the mean time?
If the stock drops to the $30's by then, I have no problem paying it out petty cash.
Truth be known, I made enough on this thing already to pay any dividend and the taxes.
Thank for your concerns and looking out for me.