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BP p.l.c. Message Board

  • augustbroker augustbroker Jun 25, 2010 11:41 AM Flag

    BP stock price won't go higher until

    'buying' exceeds 'selling' in a meaningful way. i would have thought that most 'selling' was done; appears i was wrong. lower prices (so far) are bringing in more sellers than buyers. my guess is we're close to a bottom only because of valuation reasons. can i quantify the cost of this mess? no one can.
    'if' more of the selling below $30 is 'leveraged', which is possible; and/or attached to some arb using cds, we could see an exhaustion gap lower than i have planned.
    should a hi-IQ shop (like GS) come out with a n-t 'buy' on BP saying it's too low; we gap higher. but GS has more of a history of doing just the opposite; getting people to 'sell' a pt or two within the 'low'. i wonder why?
    hey; it's only money. i'm 'guessing' BP's bottomed...but who knows.

 
BP
33.39+0.13(+0.39%)2:52 PMEDT