BP Shares

[Dan]

Anybody think it's wise to buy a few BP shares if the value falls more soon? It's fell around 30% apparently and I've got a feeling they're not going to go bump long-term, they'll just have a bit of a bad time over the coming months I'm guessing.

Anybody more clued up on this?

 

[david campbell]

this will have a lot to do with the oil leak in the mexican gulf,they will lose a fortune this year but will bounce back quite easily over the next few years

 

[Dan]

Yeah I knew it was about the leak mate. I'm wondering if it's worth waiting more to see if they drop more and then buy some and see what they're worth in a year or two.

I suppose whatever happens it's always a bit of a gamble. I just can't see them sort of halving or whatever, that'd be very weird. But then before the leak I'd have not said they'd have been able to drop 30% in such a short period of time.

 

[jimbob]

I'd say they'll continue to drop for a while yet - at least until they actually manage to plug the leak and we find out how much the US government is going to sue them for

 

[Dan]

I don't think the US can sue them, though the businesses affected will be able to.

And I heard the reason for that is that when BP applied to drill there the US regulator passed their plans, and BP are spending (I think so far 680 million pounds) a lot to attempt to clean it up.

I can see this stopping deap sea drilling and that's where the US will get involved.

Don't really know what's truth in all that though.

Heard in the news though that this 30% loss effects 9% of UK pensions.

 

[Dan]

Oh, it's on the news now that it's 15% fall, not 30%. I'm sure I saw 30% on a graph earlier, perhaps that's a like-for-like compared to last year or something and the 15% is since the spill.

Dunno. I give up. lol

 

[Deleted member 9966]

buy a small amount of shares in the next couple of weeks and see what happens Dan.

I used to have RBS shares :smilewinkgrin: got rid of all mine for around £18 a share :lol:

 

[Dan]

I'm sure if they fall more they will always come back up. I'm pretty sure this isn't a problem that will kill BP off so I'm thinking it could be a bit of a wise move. Will give it a go when I spot a really low point in their prices.

 

[mikethetile]

nows a very good time to buy if your looking for long term gain

as soon as that hits bottom the shares will bounce as the speculaters buy and sell quickly for short term profit

they will sit low this year untill after christmas and the price will rally for next april as there will be a dividend payout on their profits

remember this is only a small part of their operation and everything else will remain in profit

 

[david campbell]

shares are a 50/50 gamble!
they either go up or down
my grandad did make quite a few bob with the bt first share issue when they were about a pound per share,not sure how much he cashed them in for but i know he made well more than x20 his original investment:yikes:

 

[mikethetile]

before my first divorce , I put my spare cash into the stock market, theres no quick return as shares rise or drop daily but over a long period they do tend to grow in value

but it is a risk at this time as when the pound drops so does your shares and we are in for a rough ride, when that happened I used to hold them or even increase my stock

the secret is to buy when everyone else is selling and to sell when everyone else is buying

and look on it as retirement fund

 

[Time's Ran Out]

This leak is not even in the top 40 of leaks.
The Torry canyon off Devon was worse.
I'd say buy.

 

[diamondtiling]

This leak is not even in the top 40 of leaks.
The Torry canyon off Devon was worse.
I'd say buy.

The US are saying its the worst man made disaster in their history, the native Americans might disagree with that.

Anyway on Dans question I say buy, its BP and they wont go bust, 700 million and counting trying to stop the leak, they have paid out to hundreds already to minimize the litigation that they are insured for anyway and they are worth zillions, they wont stop drilling for oil for years and years.

 

[hillhead]

And i see the price of heating oil down a bit too

 

[Daz]

If we all knew when the right time to buy was, we'd all be millionaires .

What I do know is that I purchased a wedge of Barclays shares when they were low and they have more than trebled in value since the purchase :smilewinkgrin:.

IMO, choose your entry point and make your purchase based on how much you can afford to lose. Keep your fingers crossed and decide your exit point (either timescale or price). Stick to your decisions made and I hope you make a profit.

 

[puddle]

Why buy on the way down,can not see any big quick rebound ,all institutional investors are caught in there and are not going to start increasing stakes,will fall more and take over talk will be used to try to stop slid,think when at bottom will have time to buy if you wish

may find of interest

Is it safe to buy BP? - MoneyWeek
:smilewinkgrin:

shares are best long term

if you are looking for short term entries and exits ,maybe look a spread betting ,for tax reasons.
Environmentally what has happened is a disaster ,financially it gives a rear opportunity,if you get your timing right...ish

 

[White Room]

Even saying now that the situation with BP could effect pensions:yikes: