My thoughts exactly !! What has fundamentally changed in the last two weeks ? I would conclude nothing so why the hammering . In my humble opinion I feel the market is being manipulated by the massive hitters as I stated in previous post a Director of BP purchased with his hard earned 1,000,000 shares at £3.43 so he must be either mad or confident things will come good my money would be on the latter. I know when the rig went up it was Doom, Doom, Doom , share price collapsed and I filled my boots as I concluded as I do now what has fundamentally changed . Oil will and must come good and the Soudies are at the moment just self harming and even they can't keep bringing up oil at a loss. Stay strong and believe Keep Smilling
The tree is being shook to make people panick I have just gone in again at these prices it's a total no brainer In the words of corporal Jones DONT Panick Don't Panick !! It's a massive over reaction . Dividend cut of today so at least something back. BP are a global money making machine and are massively into gas as well as oil and gas is holding up and now going up. The current reaction must mean we will not want oil anymore and oil wi
Bearish factors prevail at this time. e.g. Iran's impact, shale explorers producing more, USA exporting oil, OPEC refusal to cut output and millions of barrels of excess capacity being stored in tankers around the world.
So the conditions are firmly bearish and buying, in my opinion, is best avoided.
Yes, the market will recover but it will take a lot of change to make it happen.
We have had a bashing today but I bit the bullet and purchased more which I see as a no brainer at these levels , looked at a late trade yesterday 833,907 shares at just over £3.30 so that trade is well in the hole. I have no worries with BP it's just a game and the powers that be are seeing just how low they can push it South . A big boss of BP explained on the radio this morning that he sees a recovery in price this year to near $100 a barrel or at the very worst between $50 and $100 so we will just have to wait and see . He also said demand for oil was going to increase by about adding another country the size of USA so hold tight and enjoy the entertainment in the markets for that's what it is entertainment . The markets are being manipulated by the extreamly big hitters oil as well as banks seem to be taking the brunt of their attention. Keep the faith and stay strong Keep Smilling
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