JB, no point me selling half for a quick profit as the amount is quite small.

Alloy, yes its a complete punt on my side. That's why I only invested a few Łk, worst case scenario the company goes bust and I won't lose sleep over it. Oh, and i can carry the capital losses forward for a number of years (for tax purposes)

Glesgakiss, thanks for the advice. I'm sure you are probably right What's your exit strategy mate?

 

I was originally planning to keep them for years, and then start collecting a dividend if/when it comes back, but if it advances a silly amount (around 50% or so) quite soon, then I might just sell them.

 

Cheers.

Up to 390p today! I bought Barclays at just under 270p as well. For a numpty like me who is just having a punt its been a very good week.

All paper profiits so far though

 

Read today in the paper that Exxon are looking at a take-over.

 

^^ BP would never go for it surely

TX.

 

Well it's trading at a 33% discout to where the talk is of a potential bid. If you like speculation BP does potentially look ripe for a predatory approach...

 

14:05 12Jul10 RTRS-UPDATE 1-BP to attach new cap on leaking Gulf well on Monday
* BP to attach new cap on leak later Monday
* BP to start up new oil-capture vessel Monday

(Adds details)
HOUSTON, July 12 (Reuters) - BP Plc <BP.L> <BP.N> said it expects to attach a new cap to contain the leaking Gulf of Mexico wellhead later on Monday.
"We have the cap very close, and later today we'll be attaching it," Doug Suttles, the company's chief operating officer, said during a media briefing. "It could take well through the day to complete."
Once it is installed, Suttles said BP will shut down two vessels siphoning oil from the leak -- one of which is expected to start up on Monday -- to monitor pressure and check the integrity of the blown-out well.
Those tests could last 48 hours or longer, Suttles said. If the cap works as intended, all crude oil should be contained, BP said. (Reporting by Anna Driver and Kristen Hays in Houston; editing by Paul Simao)

 

Thanks Alloy.

Almost touched Ł4 today.

So, I got in at the right price, now I need to make sure I get out at the right price. If I do I'm going to buy wifey a nice present for our anniversary, if not she'll get **** all

 

http://www.thisismoney.co.uk/markets...page_id=3&ct=5

 

400.05

Those that got in near 300 must be very happy so far!

I am happy and I only made a few hundred quid so far...

 

A couple more

http://www.thefirstpost.co.uk/65734,...keover-rumours

http://www.dailyfinance.com/story/bp...over/19550074/

US owned and operated rig is destroyed whilst "on hire" to BP, US government bash BP and reduce the value of the company, now they won't stand in the way of a US company takeover......hmmm

Where are those conspiracy theorists?

 

412p!!!

 

TIDMBP.

RNS Number : 2445P
Bp PLC
13 July 2010

?
press release

Issued in the US July 12, 2010 (July 13)

CAPPING STACK INSTALLED ON MC252 WELL


The three ram capping stack was installed on the Deep Water Horizon LMRP at 7
p.m. CDT (July 12). The stack completes the installation of the new sealing cap.

Following installation of the capping stack and in line with the procedure
approved by the National Incident Commander and Unified Area Command, the well
integrity test will begin July 13 on the MC252 well.

For the duration of the test, which will be a minimum of 6 hours and could
extend up to 48 hours, the three ram capping stack will be closed and all
sub-sea containment systems (namely, the Q4000 and Helix Producer) will be
temporarily suspended, effectively shutting in the well. It is expected,
although cannot be assured, that no oil will be released to the ocean for the
duration of the test. This will not however be an indication that flow from the
wellbore has been permanently stopped.

Information gathered during the test will be reviewed with the relevant
government agencies including the federal science team to determine the way
forward. Options include reinstatement of containment as well as extending the
test duration beyond 48 hours.

The sealing cap system never before has been deployed at these depths or under
these conditions, and its efficiency and ability to contain the oil and gas
cannot be assured.

The Helix Producer containment system started operations on July 12. The Q4000
containment system continues to capture oil and gas from the MC252 well and
flare the hydrocarbons safely at the surface.

Relief well operations continue throughout this period and remain the sole means
to permanently seal and isolate the well.

 

Charts on BP don't paint a pretty picture. Those with long positions may consider some form of protective stop loss if their brokerage offers this type of order and they're in the trade for a quick buck....

 

Why do you think the picture looks bad? Is it the law they are trying to pass in US to stop BP having any further licences,progress of the capping or something else?

Would welcome your expertise.

 

Just need the next few days to go well for them (new cap test) and if it goes to plan then I expect the share price to start to very slowly recover, but if it goes badly.... eek.

 

It doesn't matter to me what the story is halting price action as that gets priced in the supply and demand of the stock, an old cliche but for a reason "it's all in the price". Monday we saw what we can now say is an exhaustive gap upwards with a doji candle being posted (closed unchanged after being higher and lower through the session) this is a strong reversal candle when seen in an uptrend. Yesterday we saw a bearish hammer candle posted which again tells me sellers are moving in and is a sign of trend reversal. Broadly the stock is overbought which can suggest several things but with the bearish candles I read we expect a retracement. This 400 level will be a psychological level where I would expect a few people to have an interest in. If I was trading BP I would have liquidated it in Mondays evening auction period all this coupled with a rally on shallow volumes just shows there isn't huge conviction from the bulls. Of course still a punt with the oil spill still unresolved and all the above is as ever subjective. Just my 2p worth

 

Won't pretend I understand any of that but I'm familiar with the chartist terminology.

BP actually did alright today. Stayed flat whilst the FTSE 100 fell 1%

 

Seriously ****** up not going in at 300 , never likely to get a better possiblity

 

You and me both mate!

 

Noticed earlier that the ADRs in the U.S. rallied over 7.5% going into the close. Just seen on the news that the pressure tests on this new cap have started and so far no oil is leaking. Long way to go yet though. Fingers crossed if you are in this for the short-term, but there's certain to be a pretty substantial move higher if all is well after 48 hours.

 

Yeap - Sky News reporting capping is successful. I'll be "dipping me bread" at 7.45am

 

Caught the encouraging news on the box this evening. It will be fascinating to see whether macro/common sense things have an influence on the share price or whether Alloy says thats all irrelevant and it's all in the charts/movements

 

The leak has been stopped - I expect a small rise in the morning!!! 10%?

I reckon unless you bought on yesterdays close then you are too late. Opening prices will be significantly higher than the close.

And if the cap leaks or breaks then the share price will go down. If the cap causes further damage to the wellhead then expect a dramatic fall!

 

Gonna hit Abbey sharedealing for 1000 shares in the AM. Max loss Ł4K - Would hurt but could survive.

 

I was a contractor for bp (employed by a different company but working for them on contract management), a guy who worked in their customer svs centre in swindon was made redundant in april before the accident. He had worked for them for over 25 years, had a decent pension and had a share option. Clever guy sold them before the accident, made an absolute fortune!! He doesnt need to work again as near retirement age so he has a good pension as well

He doesnt need to work again at 56 years of age

 

http://www.thisismoney.co.uk/markets...moretopstories

Wonder if I should buy 100,000 shares at 7.45 am and offload 99,000 at the end of the day? Hmmmmmm - Risky!

 

It's too late to buy shares - the market will open with the news priced in.

 

Iv 'made' 40 quid

 

Yep - opened at 24p up.

If you buy today then it must be for the medium term and if the new cap leaks expect to lose a lot of money.