As I enter BP is set to open $.54 up. The oil sector is up but I have to believe the US Coast Guard giving the green light to BP's cleanup efforts. I sense a series of 'good news' stories for BP over the next month.
I do not think the coast guard giving up cleaning work and going home is a green light, It is a caution light, says, "proceed with caution to the next checkpoint. Checkpoint July 8th will be here soon, but days before it arrives, it will be heard in the heavens a great and boisterous fanfare of insider activity. The selling or buying will be deafening for those with insider information. Who is the first to know the outcome of a trial? DeJudge, then dejudge staff, their contributors, their families, then participating parties, their lawyers and their families, reporters on the "in", and very LASTLY, you, then me. Some will never know the outcome or future prospects even after they occur, uh, "Vikki the short troll".
So you are saying that the US Coast Guard's decision that BP has fullfilled all their clean-up obligations in three states is the US Coast Guard really saying "proceed to the next checkpoint????" What is the connection between the US Coast Guard and the Federal Court Payout Procedure? Why would a branch of the Armed Forces of the United States be involved in a Fifth District Federal Court appeal decision?
Don't give up your night job! BP is tracking S&P as of noon, XOM & RDS are lagging. On a one month chart, BP's net change is near zero while XLE is down over 2.5%. Please feel free to stop me dead in my tracks. I hope no one takes over your favorite street corner tonight, it must be pretty competitive out there.