I started an initial position with BP about 4 months before the spill. it was a modest position and was done to reap the great dividend. after the spill, I increased my position 4 fold buying into BP 3 more times. my total cost basis is $41.83/share. altho the capital gains are modest, I have realized a good yield due to dividend. I do not expect short term capital gains. rather, I expect to reap profits after the hullabaloo from the spill gets behind BP. the earnings are good despite the cleanup costs. the buyback helps bolster the share price. the oil industry is profitable. BP's P/E is remarkably low. the stock is over sold and hence, the PPS is artificially deflated. my M.O. is to buy into good companies having a bad time. I have done very well outperforming the market as a whole, and the market has been good. BP is a prime target for me and is 18.4% of my stock portfolio. my advice, relax. be patient. reap the dividends (literally) until the majority of the litigation process is behind. If you play BP short (Vikki), you better have the funds when your Short Squeeze comes calling.