Looks like every single person on these boards are shorts, so the good old contrarian indicator is in effect.
I actually say it opens up about $0.50 over Friday's close. Progress is being made and a real plan is in place. We'll see...
The image of this company is shot! Once the dividend is suspended, the next stop mid 20's. This mess is not in Alaska, or in a mid eastern country, its our backyard! Every time BP talks about solar, and what its doing to "save the earth", you will picture this disaster. In the end the company will be broken up, and sold much like Union Carbide.
Oppenheimer said BUY BUY BUY
I say sell sell sell
Unfortunately this company is going by the way of Union Carbide
for all those old enough to remember.
Barack Hussein will stand for nothing less.
Now how was MY business affected?
no, worse than that. This is the end of teh company.....no question about it. Everyone now admits there will be at least 5000 barrels a day, and likely 20,000 per day until August. Teh value of the gulf of mexico is 1000000000000000000x that of BP.
They do not exist anymore. Gap will be 7-10 dollars....and it will not come back.
Market is closed on Monday, so you don't have to worry til Tuesday. By then, the LMRP could be in place, the relief well could be down to 14K feet, and the gigantic tease about the top kill will be out of the way.
I think the big money starts hunting the stock on any weakness next week. If they only have to drill to 18K feet, the relief well could be done in a couple weeks, assuming they can hit the pipe going into the reservoir.
No one is paying attention to the progress that BP is making with the relief well. I hope the LMRP sucks up most of the oil from the BOP, but that's not gonna stop the leak.
From here, it's all about the relief well, which has always been the case. I would start buying the stock by the end of next week or whenever they pass the 16K ft mark, whichever is sooner.
They drilled 2000 ft in the past 4 days, so they could get down to 16K ft by next weekend if they maintain the current pace of 2K ft every 4 days.