It is obvious to me this stock is being manipulated. I agree that JPM is likely to drive it down to $40, load up, buy calls, advertise the great potential of BPT plus the royalties. Everybody and their uncle will jump back in and we could see BPT in the 90s again. As I have said before, I very much doubt that the price of oil is going to stay low like it is. There is just too much unrest in the Middle East. And Obama just declared Venezuela a political problem. Now he wants regime change in Russia.
I believe oil staying at the low price is a pipe dream. All hell is about to break loose in the Middle East and Iran could shut down the Straights of Hormoose. I think the oil market is being manipulated. Today it is the oil industry, tomorrow is could be the tech industry, and who knows which industry could follow that. Like Jim Cramer says: "There is always a bull market somewhere". Right now it is not oil but it will come back and soon. JMHO.
IMO, JP Morgan must know that the price of oil is going back to the $100 range. I would not be surprised if they are intentionally trying to drive BPT down as far as possible so they can buy and cash in on the dividend and capital gain. Be patient and buy when you think the price has hit the bottom. (we are living in a time of such deception and lies I wonder if sometimes we should believe the opposite of what we are being told)
I want one of those things. It looks incredible. I may not buy the first edition but I will buy one. Go Apple!
I am very sorry whenever selling BPT. So, I just hold onto it even in pull backs. Someday I will sell all of it for good. But my judgment has not led me there yet.
One more thing, I have read that the BRIC nations (Brazil, Russia, India, China) are starting their own central banking system. This comes on line in 2015. Their currency will be backed with gold and oil is likely to become traded in that currency instead of the US dollar. What will that do to the price of oil? And the price of gold? Something to think about.
Agreed. I am chipping away at these low prices. Buying 25 shares at a time here and there. The media is touting excess oil supply but what is not being considered is the Middle East situation. There is likely to be major war over there in 2015. War between Israel and their neighbors, war continued by ISIS, overthrow of Assad in Syria, war between Russia and the USA, and the list goes on. Any of these events could drive up the price of oil. IMO, the real reason for the present low cost of oil is twofold. 1) to hurt Russia's economy (they could retaliate against the US and Europe with a war on us), 2) to mask the failing US economy. IMO, we must look at the whole world picture instead of just barrels from a pipeline.
When there is blood in the streets, BUY. Two years ago we saw BPT drop down in the 60s. Then it went back up to over 100. The capital gain would have been a nice return. The nay-sayers were out in full force then too. Maybe we will have a repeat performance and maybe not. What worries me the most is Russia being so close Alaska. If he gets mad enough at Obama for squeezing Russia on oil prices, could Putin just march over and take the oil fields? Act of war, you say? Does Putin really care? He is not afraid of paper tiger Obama in the least.
The price is of oil is dropping now but will it stay that way? The world is headed for war, particularly in the Middle East. Putin has had it up to his ears with Obama and Europe. Oil will not be $60 by summer. It just ain't gonna happen. JMHO.
There is not enough metal on this earth to make all the windmills, cars, solar panels, etc., needed to accommodate the population with transition from oil to green. It will take 20-30 years to move away from oil to alternative energy to make a difference in oil prices. Everything we touch and own is produced using oil. Isn't a key ingredient of plastic oil? In the short run, near future, I do not see oil prices dropping. As long as we have an anti-oil president, the price will be up regardless of green energy. Just my opinion. At this time I will not be short on oil.
The way things are going in the Middle East the price of oil could be above 30% by the end of the year. And if not this year, then next year. Do not underestimate the price of oil. To go along with it, Obama has a global warming agenda. The higher the price of oil, the more people will buy electric cars and other green machines. IMO, that is part of the reason he is doing nothing about what is going on in Iraq. Middle East chaos means high oil prices.
Just wait until Israel strikes Iran's nuclear facilities and war breaks out in the Middle East over it. Oil could shoot the moon. $75 for BPT will be cheap.
The big boys , Seeking Alpha, or somebody is driving this stock down. Go ahead, Make my day. Let me pick up a few thousand more shares and a rock bottom price, take of advantage of the capital gain, and load my bank account with a juicy dividend in October.
I've bought and sold this stock many times over the years. If I'd just bought and held in the beginning I'd be sitting on a yacht drinking champagne. Every time I sell I regret it. So I will hold on and see if what you say comes to be.
I am more worried about the USA than China. The whole world economy could collapse just because of the USA's debt and Obama's out of control spending. Add inflation to that and people stop buying. That could put a pinch on China since we buy everything from them. If push comes to shove and we have a choice between high priced food and high priced discretionary items, what will we buy? Food. When could a collapse happen? Anytime between now and never. My policy is to invest with caution, invest in quality stocks, and be ready to sell at any moment. If I listen to the naysayers, I will sit on the sidelines in cash and miss out on growth opportunities. So, it is a #$%$ shoot either way. I like SCCO and I am buying in the dips.