To all the day traders

[Scooby's Hubby]

To all the day traders out there ... I closed my position on Ford (paid $2.83) and put it all in BP below $30. I don't think Ford is a sell but i had to use the money so I would not go into margin. I understand many traders are starting to 'wet their beaks' long in BP. Anyone else jumping in?

[Avernus]

To all the day traders out there ... I closed my position on Ford (paid $2.83) and put it all in BP below $30. I don't think Ford is a sell but i had to use the money so I would not go into margin. I understand many traders are starting to 'wet their beaks' long in BP. Anyone else jumping in?

 

I would have put that money into the Euro (for the short term), the BP spill will probably go on for the remainder of 2010 and possibly longer....

[Scooby's Hubby]

so far so good :crossingfingers:

[MrTed46]

To all the day traders out there ... I closed my position on Ford (paid $2.83) and put it all in BP below $30. I don't think Ford is a sell but i had to use the money so I would not go into margin. I understand many traders are starting to 'wet their beaks' long in BP. Anyone else jumping in?

 

I wouldn't touch BP right now. There is so much risk attached to BP that it isn't worth the heartache or owning it. It is not a stock I can confidently hold over a weekend or even overnight.

 

They do generate enough positive cashflow to survive this if all things remain equal, but the thing that scares me the most is how Obama will handle BP, as if he can get oil supplies from another company to clean his hands with BP and the public perception of BP can affect their sales.

 

While I agree there is upside, it is one of those stock that will keep me up at night.

Edited July 6, 2010 by MrTed46

[dmarc117]

While I agree their is upside, it is one of those stock that will keep me up at night.

 

 

+11111

 

if i did buy, i would wrap it up with options.

 

too much unknown out there for this stock right now.

[frankf]

I'm staying away for now, I think there is too much risk to the downside. I will probably revisit the idea in early 2011.

[SEC=UGA]

BP

[Scooby's Hubby]

+11111

 

if i did buy, i would wrap it up with options.

 

too much unknown out there for this stock right now.

I thought about a married put, but I am also an O&G producer and understand what they are going through. Their leases and the law says what it says in the case of catastrophe, plus this operation is insured and their investors (Anadarko, et al) all signed a JOA (Joint Operating Agreement) which is totally binding. The relief well is close and when the spill is stopped the stock will have already bottomed. Priced to earnings for the world's largest producer of oil is above $48/share. I will be holding this stock for over a year and plan on selling near $60/share. Obama and Louisiana need that rig to stay in the area. This field discovery is a monster. FYI, Cuba has just leased their deepwater for the same zone to a Spanish Company, and that well will be just like the BP well and the same distance from the US coastline as BP's well and drilled under less regulation and supervision. Obama must stay competitve not to mention the jobs and income Louisiana will lose if this rig leaves. But even without this play, BP's earnigns support $48+/share.

 

This is the riskiest business in the world.

[dmarc117]

I thought about a married put, but I am also an O&G producer and understand what they are going through. Their leases and the law says what it says in the case of catastrophe, plus this operation is insured and their investors (Anadarko, et al) all signed a JOA (Joint Operating Agreement) which is totally binding. The relief well is close and when the spill is stopped the stock will have already bottomed. Priced to earnings for the world's largest producer of oil is above $48/share. I will be holding this stock for over a year and plan on selling near $60/share. Obama and Louisiana need that rig to stay in the area. This field discovery is a monster. FYI, Cuba has just leased their deepwater for the same zone to a Spanish Company, and that well will be just like the BP well and the same distance from the US coastline as BP's well and drilled under less regulation and supervision. Obama must stay competitve not to mention the jobs and income Louisiana will lose if this rig leaves. But even without this play, BP's earnigns support $48+/share.

 

This is the riskiest business in the world.

 

 

its been a great trade. nice work.

[MikesVikes]

Scooby's hubby, if you own BP, could you please clean up your mess? TIA.

[Scooby's Hubby]

Scooby's hubby, if you own BP, could you please clean up your mess? TIA.

of course, if it wasn't for the spill and the stock trading from 60 down to 26, then I wouldn't be an owner. value swap here ... just wanted to document the time and price of the trade so this could be re-visited. To be continued ...

[Scooby's Hubby]

[dmarc117]

great trade.....if u think about it, they are just like an insurance co. allstate gets blasted in a florida hurricane, they just raise rates everywhere else. we will just pay a few more cents for gas in the coming years and bp is back in the black!

 

im trading some biotechs rite now.

[peepinmofo]

Im not an investor, but if I was, I certainly wouldnt put ANY money in BP. I dont care how much money I would make. If you invest in them, you agree with the way they operate and you are basically supporting them. I understand people want to make a buck, but putting money in to a company that caused all this mess just isnt the way to do it. Not calling anyone out, just stating my thoughts.

[Avernus]

Im not an investor, but if I was, I certainly wouldnt put ANY money in BP. I dont care how much money I would make. If you invest in them, you agree with the way they operate and you are basically supporting them. I understand people want to make a buck, but putting money in to a company that caused all this mess just isnt the way to do it. Not calling anyone out, just stating my thoughts.

 

 

exactly my sentiments...

 

especially with how poorly the spill was handled, I wouldn't show any kind of support to anything regarding them no matter how much money it would make me...

[dmarc117]

Im not an investor, but if I was, I certainly wouldnt put ANY money in BP. I dont care how much money I would make. If you invest in them, you agree with the way they operate and you are basically supporting them. I understand people want to make a buck, but putting money in to a company that caused all this mess just isnt the way to do it. Not calling anyone out, just stating my thoughts.

 

 

hope u never picked a criminal on your fantasy teams............

[peepinmofo]

hope u never picked a criminal on your fantasy teams............

 

Because fantasy football is where players make money. Riiight. Cmon dude. That doesnt even equate in any way, shape, or form.

 

While playing fantasy football might be "investing" in a player, I do believe the stock market is a bit different.

[Skippy]

Im not an investor, but if I was, I certainly wouldnt put ANY money in BP. I dont care how much money I would make. If you invest in them, you agree with the way they operate and you are basically supporting them. I understand people want to make a buck, but putting money in to a company that caused all this mess just isnt the way to do it. Not calling anyone out, just stating my thoughts.

 

 

exactly my sentiments...

 

especially with how poorly the spill was handled, I wouldn't show any kind of support to anything regarding them no matter how much money it would make me...

This is the sort of thing that would keep me away. What I mean is that I know a lot of people around here are not going to BP for thier fill up. I don't know for sure if that is the right position to take but I also have not been to a BP for quite some time.

[Scooby's Hubby]

Again, BP does not won those stations, those gas stations are independantly and locally owned. The gas station owners will probably change 'labels' when their contract is up. There is a gas staion down the street that was Valero, then Exxon the next year and the station next to it did the exact opposite and went from Exxon to Valero. All you are boycotting is some small business owner from your area (or a Pakistani or Indian transplant, LOL).

 

BP makes their money just like I do. We drill wells and sell the oil and gas from them to gatherers who then sells or transports it to a plant or storage. The gasoline you use and buy is a blend of many producers from many countries. If you want to boycott BP then boycott the industry and don't eat anything in a package or take any motorized transportation or wear any clothes that you do not personally sew. Unplug and sell all of your appliances and throw away your computer. Hand dig you a hole to use for an outhouse and scrap your house.

 

My friend and his wife and 3 kids just got back from Destin and he said it was packed and there was no oil, smell, etc.. Many people who had no clue were trying to tell him not to go. All they wanted to do was pile on BP and make it sound like Destin and the rest of the beaches were gonna be oiled up and smell horrible and no fresh food, etc. They really had no idea what they were talking about.

 

The negative hype on BP has bottomed. Sure their PR dept. totally failed. Sure, there is going to be more investigation as to who is at fault, whether it was mechanical or what and whose product and/or crew had how much responsibility. They are still the world's largest oil producer tradeable on the markets. That is alot of income that is not reflected in the stock's price. I mainly started this thread to document the entry point of my trade. This way is more believable than if I had said a year from now "I just sold BP at $58 and only paid 29.55". This way I can document my trade in a more credible manner. I have no emotional attachment to the stock, I have been trained to buy undervalued stocks, and BP definately qualifies, comapred to their earnings. Now if they just keep the dividend intact, which is why I think they are going to sell some assets ...

Edited July 13, 2010 by Scooby's Hubby

[i_am_the_swammi]

I mainly started this thread to document the entry point of my trade. This way is more believable than if I had said a year from now "I just sold BP at $58 and only paid 29.55". This way I can document my trade in a more credible manner.

 

So this whole thread is a way for you to be able to say "Look how much money I made"?

 

Gotcha.

[TimC]

"30 seconds after the Challenger blew up, he's selling NASA stock short."

[Scooby's Hubby]

So this whole thread is a way for you to be able to say "Look how much money I made"?

 

Gotcha.

no, I never said how many shares I bought. It is more for other traders to compare strategies. For all you kow I coulda just bought one share.

[geeteebee]

"30 seconds after the Challenger blew up, he's selling NASA stock short."

 

 

I love that movie, but that line really pisses me off. It is just so stoopid. I was in high school at the time and even then knew it was dumb.

[Scooby's Hubby]

"30 seconds after the Challenger blew up, he's selling NASA stock short."

I went long the market after the 9/11 correction. I did so b/c I believed in our economy and that our shares were undervalued. Did you hate the player then or hate the game? Read the sigline quoted from Primetime Deion Sanders ... I just see money laying on the ground waiting for me to pick it up, don't hate me, hate the game.

[peepinmofo]

Again, BP does not won those stations, those gas stations are independantly and locally owned. The gas station owners will probably change 'labels' when their contract is up. There is a gas staion down the street that was Valero, then Exxon the next year and the station next to it did the exact opposite and went from Exxon to Valero. All you are boycotting is some small business owner from your area (or a Pakistani or Indian transplant, LOL).

 

BP makes their money just like I do. We drill wells and sell the oil and gas from them to gatherers who then sells or transports it to a plant or storage. The gasoline you use and buy is a blend of many producers from many countries. If you want to boycott BP then boycott the industry and don't eat anything in a package or take any motorized transportation or wear any clothes that you do not personally sew. Unplug and sell all of your appliances and throw away your computer. Hand dig you a hole to use for an outhouse and scrap your house.

 

My friend and his wife and 3 kids just got back from Destin and he said it was packed and there was no oil, smell, etc.. Many people who had no clue were trying to tell him not to go. All they wanted to do was pile on BP and make it sound like Destin and the rest of the beaches were gonna be oiled up and smell horrible and no fresh food, etc. They really had no idea what they were talking about.

 

The negative hype on BP has bottomed. Sure their PR dept. totally failed. Sure, there is going to be more investigation as to who is at fault, whether it was mechanical or what and whose product and/or crew had how much responsibility. They are still the world's largest oil producer tradeable on the markets. That is alot of income that is not reflected in the stock's price. I mainly started this thread to document the entry point of my trade. This way is more believable than if I had said a year from now "I just sold BP at $58 and only paid 29.55". This way I can document my trade in a more credible manner. I have no emotional attachment to the stock, I have been trained to buy undervalued stocks, and BP definately qualifies, comapred to their earnings. Now if they just keep the dividend intact, which is why I think they are going to sell some assets ...

I dont care WHO owns the gas stations. BP still makes a profit from them - PERIOD. My money will not go to BP in any way, shape, or form. See my post about how I said BP is a terrorist orginization. I stand by it, and I stand by saying what I said: You should be ASHAMED of yourself if you buy anything BP related, and/or invest in them.

 

As for boycotting the industry, lets be real. While yes, they all might be corrupt, the bottom line is we dont know for sure exactly how other companies operate. We do know however that BP has mismnanaged this whole debacle, and thus far, they have shown absolutely ZERO to give anyone confidence this will be fixed anytime soon. The ONLY thing they are wanting to do is continue to profit from this by collecting the oil, and not STOPPING it.