"While the Gulf oil spill has devastated the region, and will have long-term consequences, BP will be able to shake off the costs of the cleanup with little more than a shrug."
They are trying to set up people who short too late imo.
"let me ask u just one question-WHAT will make this stock go up Wednesday that makes u want to sell it Tuesday
Thank you. "
Emotion over common sense perhaps.
I am still unable to explain the 11-12 percent swing from Thursday to Friday.
That all happened before we know if TOP KILL would work or wouldn't work.
There is no explanation to many things that happen in the stock market.
How else would you have a buyer and a seller for the same stock at the same time.
Someone is glad to get rid of something for $10 a share, and there is a ready and willing buyer at that price. They both have a completely different outlook on the same stock at the same time.
"if you're so sure go all in on margin lmfao"
As a matter of fact, I am SO SURE, I did EXACTLY that!
What are you laughing your ass off? Surely you don't think I made a mistake going short on Friday, do you?
I don't know what the news will be on Wednesday or Thursday, not do I care, but 24 hours away, what do you see that I don't that gives you the courage to laugh at shorts..
SHORTING is not a lifelong obligation. Ot took me tenth of a second toSHORT, and it will take me less than that to cover my position tomorrow.
What am I missing?
never ever happen- there are 3 billion shares outstanding and book value is 33 dollars do the math if you can
a 30-45 billion clean up is a drop in the bucket no pun intended!
the stock might drop to 39-40 on tuesday --it is a buy
>>if you're so sure go all in on margin lmfao
That would be as stupid as shorting on margin.
With any stock in the news there are things going affecting the price (1) fair value (2) herd mentality.
For example knowing some dot.com stocks were worthless and shorting them could have bankrupted you before the herd learned.
Pretty short sighted opinion in that article if you ask me..
They based it on "They make $66 million a day and only spend $16 million for clean up, so they are still making $50 million a day, so they should be OK"
1-No one including BP knows how much they are really spending a day. Not this early on. The clean up has not even begun yet. Hiring some temps and a few boats to sweep the marshes and the beaches is not clean up.
2-Only a small area is effected because that is where the oil came ashore. These are not populated ares. yes the impact on wildlife and nature is sickening, but there are no population there.
3-What oil has shown up is only a fraction of the oil that has leaked. The time it took me to type this post is about the same as what it will take 100 men a day to clean up what leaked during the same time frame.
4-Is the clean up still at $16 million when oil reaches Florida and Eastern Seaboard?
The article does not come anywhere near reality when it comes to estimating the clean up costs, because we don't what and where and for how long we will be cleaning up.
This also puts BP's ability to earn $65 million at jeopardy. I can guarantee you their image is tarnished enough their sales will be crippled at least in US, which is not a market to thumb their noses at. Never mind the fact that they will be drilling and exploring at far reduced schedules than they did before.
I STILL predict BP will go the route of seeking protection from creditors because list of creditors are growing by the minute.. All this before the lawsuit and the fines levied on oil companies on per gallon basis for oil spillage.