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In all fairness to those that thought they would get a dividend it was only days away from being paid out and was voted on. They also voted not long ago to say they were not going to suspend it. going forward I think it becomes pretty clear the dividend was in danger of being cut. Obama...

I agree. Went long into the close last night thinking everyone would have figured it out that as soon as Obama said he was going to make BP put money into an escrow I knew a deal was done or about to be finished. Its easy to see what happened. Obama and BP came up with an agreement of how...

What a crazy day and that says a lot considering I been trading BP for the last few weeks. I carried long shares that I bought in after hours trading and I thought there was a good chance that the stock would pop up nicely on the news that BP was going to meet with Obama. This seemed pretty...

Thoughts on BP as Obama and the top executives of BP meet today (I started to write this about three hours ago and just finished it up as I heard a deal was done with Obama and BP) Some backroom out of the camera deals I would imagine will be made or have already been made. Obama gets...

Another crazy ride on the BP express Obama keeps talking and I have to say that no one is helping big oil more than he is. I think net net Obama is actually helping oil more than Bush ever did. The more he talks the higher oil prices go. I have to wonder what they is going to do in terms of...

BP still dragging its feet and moving way to slow I was short puts going into today but at least I declined to buy and go long BP for over the weekend. Simply said I have lost much of the faith I have had in BP getting anything done ahead of time. I am now planning on them taking their sweet...

Hi Swan, I couldn't agree with you more. Also the take it one step at a time attitude has cost the company perhaps weeks in moving to where they will be in a couple of weeks. I didn't stop today but I very much slowed down my agrressive long with BP and I am moving puts that I am writing...

with oil about 77 it is less than two years of profit most likely (all things being equal I would expect this spill to lower the profits beyond the costs as it takes away from doing things that make a profit) But it is unlikely that this would not be spread out over many years as well based...

NoDoji, How does a writer put the word "only" in front of $6.8 billion in the bank? Myself and a lot of people have a line of credit tied to their checking account. I sure hope BP thought of adding that feature so they can avoid those $20 NSF fees in case they bounce a check with having a...

Most states have workers comp laws that specify the amount of compensation for any type of injury / death. As a rule an employer can not be sued but I am basing that on Wisconsin. I would believe it to be somewhat the same through the us though. With that being said I would also guess that...

Rashid, Thanks for your post and taking the time to read my journal. I do for the most part agree with you. Of course one trade does not make your statement more or less true. I use reports (earnings mostly) as a tool in making trades. Its one of many and it receives less weight than...

Average full time attorney bills about 1400 hours per year. I am unsure where you would get the number 200 attorneys working on the case at once? If appears to me that perhaps you worked the numbers backwards with a total cost and then tried to figure out what it would take to get there...

Very true. The two don't mix well.

I was taught that there is no such thing as a dumb question. This one appears to be somewhat obvious to me but I am sure there are things that are obvious to you that I would question as well. Yes, as a general rule you can count on multinationals to incorporate in each different country...

Well I would agree that emotion needs to be removed as much as possible. I would not agree that I am emotionally attached to BP and in fact I have been both long and short BP every day for the last week or so. I have a long term long bias but that is based on odds not emotion. I could care...

What makes you think so? Did they make money? I don't know that they did because I don't recall seeing their results of trading the move. I would be fine if they did and others in the chat room made money shorting BP while I was long and I can say that the market agreed with them.

If the market is always right why is there always a buyer and a seller for every trade? Actually a better question is why would anyone (especially a daytrader where nothing about a company changes within a day) make a trade thinking the price is going to move in their direction? Why is the...

Thanks for your post and I would be fine with that. I would not be shorting for more than intraday (I think I have shorted every day for the last week or so along with going long and holding an overall long bias) I would be loading up the boat again if it goes sub 30 again absent some other...

Interesting points. I won't say they all apply to me as I never believed the price could not drop further (I took the stop on much of the trade) but I predict the odds and I don't try to predict the future. If the odds favor a gap up the next day in what I consider to be extreme good chance I...

The people are fed up being lied to?? Washington does it 8 days a days a week and few give a damn. in 5 to 12 months I think the odds are better that the average american will forget where to locate the gulf of mexico than still care about an oil spill unless they were directly impacted by it...