BP is gone. Under 5 in 12 months
- Thread starter myoffices
- Start date
You're still not citing any facts.
One more time: the markets are indicating distress. One market participant is pulling in their risk on BP, and there are probably others doing the same thing, without going public on it.
Those are actions, by folks with money on the line. All you've got is a lot of words.
The markets may be wrong, of course. Bofa may be wrong. If so, they'll pay for it, quite literally. Interestingly, it appears to be a chance they're willing to take.
Also:
1. The lowball estimate is now 30000 barrels. The most BP has captured is 15000 in one day. It's been going on for close to two months by now, and minimum will go on for two months more.
2. We're in hurricane season.
3. Finally, you've got to put the stuff someplace. Given how much there is, that's going to be a major headache.
You can go back to ranting about fishermen and the American legal system now.
You guys can argue about the end cost until you're blue in the face. The fact of the matter is we won't know the total cost for years to come. To say that $20 billion is approximate is just a guess and is not based on fact. To say that $20 billion is way too high is also just a guess and is not based on fact. Nobody is presenting facts because facts don't exist yet.
Never forget the Bhopal disaster http://en.wikipedia.org/wiki/Bhopal_disaster
An American company killed 15,000 people and there is still an outstanding arrest warrant for the CEO.
How can congress grill the CEO of BP yet protect the CEO of UnionCarbide?
An American company killed 15,000 people and there is still an outstanding arrest warrant for the CEO.
How can congress grill the CEO of BP yet protect the CEO of UnionCarbide?
i dont day trade, you are right ;-)
But because you already showed curiosity, I am currently sitting 70% in cash, about 20% in longs, the rest in VXX as hedge. Not very exciting but then I am completely clueless about the next moves. I sometimes put money into select names on the back of front page stories, BP on the short side being on of them but I got out way too early because it has become a political coin toss, if some can still extract money out of this name then good, its not where my edge lies.
What excites me so much about BP is how emotions can drive one of the largest cap firm almost into bankruptcy. Yes, you heard it correctly, its not the spill that endangers BP its the mob on the street and white house that seems to know no limits.
But because you already showed curiosity, I am currently sitting 70% in cash, about 20% in longs, the rest in VXX as hedge. Not very exciting but then I am completely clueless about the next moves. I sometimes put money into select names on the back of front page stories, BP on the short side being on of them but I got out way too early because it has become a political coin toss, if some can still extract money out of this name then good, its not where my edge lies.
What excites me so much about BP is how emotions can drive one of the largest cap firm almost into bankruptcy. Yes, you heard it correctly, its not the spill that endangers BP its the mob on the street and white house that seems to know no limits.
Stop bullshitting, scumbag.
I already showed that Bofa figures 28 bil is a conservative estimate.
You have presented exactly zero evidence to the contrary.
Since, at this point, you've shown no numeracy whatsoever, allow me to point out that 28 bil is 40% higher than the escrow account BP agreed to yesterday.
That doesn't mean that Bofa, or the Administration, is right. But if you're saying they're wrong, show it.
I've asked you to do this repeatedly. I'm still waiting.