Trading the stockmarket (NO Referrals)

gord said:
I'm thinking about BP now. Long term they are prime.
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they got handed a bill for the clean up so far of £50m - big deal... seems like pocket change to me...

i bought in, admittedly too early. but happy to hold.
 
If the cap works all could be well, but looking at the progress and how clean they got the cut i'm not so sure it will, if the first cap attempt fails then the market could react badly, this is when i will buy, almost got in around the 415 - 420 range but held out, going to hold out a little longer fingers crossed for sub 400, 390 or so will do the job :)
 
Well, their 2 relief wells should be ready in August, and that's not exactly far away. They could drop sub 400 if the current efforts fail.. but it won't worry me too much.
 
gjrc said:
bit gutted.... i bought in at 70p a few months back but only £500 worth.

well i am happy with my profit but wisdom in hindsight... wish i had punted more.
:cool::cool:
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I've given up thinking like that, otherwise you get depressed.

I won't mention the Barclays shares I sold at 90p for example :p
 
Simon said:
I've given up thinking like that, otherwise you get depressed.

I won't mention the Barclays shares I sold at 90p for example :p
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Ha I remember when I was just starting trading, selling my BARC at a nice profit for 113.. also, I was in XTA at 500 when the share issue was made.. if only I had known what I was doing.

In to BP now, just need to ride them for a while and hold my nerve through the impending news whatever it may be. Never had a dividend paying share either so that could be nice.
 
Was having a hunt around for BP news before and came accross this, no idea if it close to being correct though:

BP will bow to political pressure in the US and suspend dividend payments for the remainder of financial year 2010, warns Evolution.

'By the companys own admission they are "responsible", and if the latest global recession has taught us anything it is that there is always a need to find someone to blame,' says the broker.

'It is our view that BP will suspend dividend payments until the spill is over, especially given the letter sent to CEO Hayward by Senators Schumer and Wyden which said it was unfathomable for the company to pay out a dividend to shareholders before the total cost of spill cleanup is estimated.

'This really is not a good sign. We expect that the company will bow to this pressure and will suspend dividend payments for at least the remainder of the financial year 2010.

'The suspension does two important things for BP. Firstly, they build up a valuable war chest to pay for fines and damages etc. The full-year dividend costs the company c$11bn a year split into equal quarterly payments. The Q1 dividend has been announced and has gone xd but is not due to be paid until 21 June 2010. This could also be at risk.

'Secondly, it plays to the politicians. Even though on our numbers the company can afford the dividend by allowing the gearing to go up to the top of the acceptable range, they will still suspend the dividend.'

BP will still want a presence in the US, says Evolution, and will not want to be excluded from participating in Obamas energy bill. 'Therefore, bowing to pressure now may in the companys view be a sensible long-term strategy.'
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Ha yeh, the barc days were when I got started. Think I sold at 90, 130, 150, 170 before eventually sitting on them at 220 and eventually punting at 330p.

If we could get it bang on everytime though we would be doing it for a living!

gord said:
In to BP now, just need to ride them for a while and hold my nerve through the impending news whatever it may be. Never had a dividend paying share either so that could be nice.
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They'll be fine don't worry.

^That's me trying to convince myself too as I have 4 years worth of a share scheme in them. We have seen 370p when oil was down at $35 and the recession was in full swing.

I know someone whos planning to pay for his extension by cashing out - he's had to take a loan now though
 
Firestar_3x said:
Was having a hunt around for BP news before and came accross this, no idea if it close to being correct though:
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How old is that report? I saw the exact opposite last night.

Apparently TH is speaking to the market analysts today - the dividend is vital for many UK pensions. BP and Shell contributed 25% of the $50billion in dividend Uk funds last year I read (could have been £50b - cant remember)
 
Dated 03/06/10 10:42 assuming a 24hr clock that will be before your report.

Like yourself i can't see BP doing it myself, at a guess if they stoped the divi it could endup costing them more in lost share value than the dividend payout cost.
 
Firestar_3x said:
Dated 03/06/10 10:42 assuming a 24hr clock that will be before your report.

Like yourself i can't see BP doing it myself, at a guess if they stoped the divi it could endup costing them more in lost share value than the dividend payout cost.
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Im sure they are buying back loads of shares at the moment anyway
 
Rockhopper Exploration has increased its forecasts for its oil well off the Falkland Islands, sending its share price soaring.

Despite rumours earlier in the week that the company's Sea Lion well was producing low grade heavy oil, the company said tests on samples brought back to the UK have shown it is "medium gravity" crude oil and there is more of it than initially expected.

According to independent oil and gas evaluations group RPS Energy, the best estimate for recoverable reserves from Sea Lion has increased to 242 million barrels of oil, up from the initial forecast of 170 million.

Rockhopper's shares, muuch in demand among retailer punters, gained more than 50% in early trading. Less than an hour after trading began they were up 80p at 320p - a rise of a third.

Shares in fellow Falklands explorers were also higher: Desire Petroleum added 16p - 20% - to 99p, Falklands Oil & Gas gained 18.5p to 207.5p and Borders & Southern 5.5p to 73p.

But the news is likely to increase tensions between islanders and the Argentinian government, which has vowed to block oil drilling in a region it calls the Malvinas. In 1982 Argentina invaded the islands and, after a two-month war that left more than 900 dead, surrendered to Britain. However, it continues its claim to the territory.

Rockhopper's managing director Sam Moody said:

Rockhopper has now confirmed the first Contingent Oil Resource in the Falklands. Our analysis of the data from the Sea Lion well suggests that there is significant potential upside on our acreage and our technical effort will now focus on integrating all of our new knowledge of the basin so we can understand and identify the best prospects for future drilling. Being a 100% holder of this acreage potentially places Rockhopper in a very strong position. We are now looking forward to drilling Ernest and testing Sea Lion.

That test will be a key step on the road to proving commerciality for Rockhopper. The company reckons that a standalone field of 60 million barrels of oil reserves could be commercial at oil prices down to $50 per barrel.
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Rockhopper.

So tempting to just inject more money and buy more. All we have is a quiet RNS and they touched 350p on opening. People are going to be slicing off profit, pushing the price down at the moment.

As this information spreads and the trading and news agencies publish articles, I can see it going up and up again over the next two trading days.

Hmmm... decisions decisions.
 
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Welcome to my world of indecision, going to wait till end of day i think, see if the initial increase tails out.

Good job that RKH are supporting my MTA losses :p
 
That's it, i'm done

I've sold my MTA and RBS shares because they're just **** basically

I moved my money into RKH and DES
 
MTA are doing nowt but going down, (lack of news and everyone jumping ship to RKH perhaps?), anyways i'm staying put, not going into BP and not investing anymore into RKH, for the longterm i've stuck my spare money into something else.
 
Selling at a loss to try and make the money back else where was always a good idea in hindsight.

I can never convince myself to do it!
 
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