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Thoughts? I would put more thought into investing in a company next time if I were you.
check out this thread on a "Hacker News" that talks about BPs problems: http://news.ycombinator.com/item?id=1437447
top comment by btilly: "Short summary, the integrity of the well seems to be compromised below the layer we can reach. Therefore attempting to cap it will just cause it to leak out the sea floor below anything we can reach. The only choice is to let the oil out and try to catch it. However this will erode the already compromised well structure.
At that point it is a race between erosion and the relief wells, which hopefully will relieve the pressure on the existing well.
If the relief wells fail to get there in time, there is a real possibility of the sea floor collapsing and letting the entire oil pocket out. The potential oil spill if that happens could be up to 2.5 billion barrels."
i would suggest holding off. i don't think BP problems are over yet. there's a rumor that they may even file bankruptcy next year.
OTF, Congrats on your trade (hope you didn't go with E-man's stop loss :-O )
That said, even I'm net positive now (with a much higher buy in price), and will probably look to put in a stop (we'll see what it opens at). Waitin' for that dividend check...
BP is trading at 30.76 right now.
They're one of the lower priced oil company buys, they've got the presidents ear, a good portion of British citizens have significant portions of their pension tied into BP.
While I don't make a habit of investing in one particular company, I decided to take a shot with BP and bought in at $6k (it's a lot for me!).
Thoughts?