WorkFE's Account Talk

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41.40 to 35 is irrellevent unless you purchased it for a quick profit. It is a dividend producer and at 41.40 it was a steal, unless BP goes bust. Your dividends are worth the same as those who paid 70 to 80 a share a few years ago. I don't know what your initial stratedgy was but for some it was an opportunity to purchase a stock that they normally would not due to price.
Some stocks are meant to buy and hold (bad word) and some are not.
 
I guess that depends on what your version of is .... is. :D
LONDON | Wed Jun 16, 2010 4:59pm EDT

LONDON (Reuters) - Oil giant BP said it would not pay three quarters of dividends, significantly reduce its investment program and sell $10 billion of assets to fund a planned $20 billion fund to pay for its Gulf of Mexico oil spill.

The commitments, outlined in a statement on Wednesday, are harsher penalties than most investors had expected and follow BP chairman Carl-Henric Svanberg's meeting with President Obama on Wednesday.

BP said it would cancel the previously declared first-quarter dividend scheduled for payment on June 21, and said no interim dividends will be declared for the second and third quarters of 2010. The payouts had been expected to be about $2.6 billion per quarter, in line with recent quarters.

Investors had expected the suspension of BP's dividend, or payment in shares for a couple of quarters, and had not expected BP to be forced to sell assets and cut investment by 10 percent in 2010 and 2011 -- moves that will curb BP's growth.

BP said in a separate statement. "The board will consider resumption of dividend payments in 2011 at the time of issuance of the fourth quarter 2010 results, by which time it expects to have a clearer picture of the longer term impact of the Deepwater Horizon incident."
 
The speculation of suspended dividends was known going in. Pice + Risk = Reward/Failure. Won't be known for some time. If the company survives that same stock could be 60-80 twelve months from now making your buy in more expensive. Not advocating either way just rationalizing buying at current prices and if you're still a believer, buy more on the way down.
 
WorkFE said:
The speculation of suspended dividends was known going in. Pice + Risk = Reward/Failure. Won't be known for some time. If the company survives that same stock could be 60-80 twelve months from now making your buy in more expensive. Not advocating either way just rationalizing buying at current prices and if you're still a believer, buy more on the way down.
Click to expand...

You think they will able to fend off the sharks?
 
Will the $20B be enough under the current governmental environment? There's a story about how the Gulf Coast boat owners are doing better under contract standing by for oil work from BP than they would fishing. BP continues to run ads that they plan to stand by. A lot is being spent now and a lot will be spent under the czar enticing claimants to avoid suits. Then there are the suits and settlements. BP has become more than a corporation cleaning up a spill and moved to an employer of a large region for some time, it seems.
 
My daughter is under contract with BP at their Texas City refinery - working on safety aspects at the plant as a program manager. BP just pumped in $500M for more work. My daughter may be there for several years.
 
I see nothing that says we will finish in the green today. Congrats to those who played the EOW rally last week. Baby Steps:D
 
"Bouncing back from their biggest August slide in nine years, the major stock indexes climbed after the Institute for Supply Management reported its index of factory activity rose to 56.3 last month from 55.5 the prior month. Readings above 50 signal growth."

http://www.marketwatch.com/story/us-stocks-rally-on-global-growth-hopes-2010-09-01

Relax everyone, by friday we'll be reading about double dip, catostrophic calapse of the world economy as soon as they figure out which script is up to date. :D
 
There is the possibility that this up leg will roll right into November. There is however the worry of the four year cycle and what impact pressure it may apply. I think it will be mild.
 
Birchtree said:
There is the possibility that this up leg will roll right into November. There is however the worry of the four year cycle and what impact pressure it may apply. I think it will be mild.
Click to expand...

I will play the EBBS & TIDES. Why you may ask ? Because, I'm totally clueless ! FYI :nuts:
 
I guess I better start watch'n TWC. I heard it was coming ! Now that I live in a doublewide. ! :worried:
 
It'll be over before you know it. Put the trash cans and lawn furniture in the shed and if you must go out make sure you wear the ankle weights.
 
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