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Stu
Do nothing and collect the dividends to at least back end of 2021. Evaluate where the share is heading at that point. BP may have said they are no longer exploring as so many known production assets companies are in trouble. As they pick some of these up the share value may well increase.
After this experience you know what never to do again. That is put all eggs in one basket.
Hi have 41k invested at a average of £5.20. I would love a average of £2.85. All my shares are over 50% down with no available funds to average down. Bad times.
Hello Lodan,
You are right in saying that one ought to stick to your convictions with trading. I got in at 2.80 with similar sentiments to yours, however looking at the latest developments, particularly the northern lock downs, increasing case loads, demand for jet fuel, an apprehension for people to go out, I think the near term outlook is gloomy. Market is often driven by sentiment and the sentiment will take a while to pick up (Brexit, Trump & Vaccine).
The fundamentals have not changed as you said, but I feel that there is a case to come out now, and get in closer to a trend shaping period, which I think is November.
If this was a good buy for you at 2.95 why is it now a bad buy? The fundamentals havent changed and catching a bottom is nearly impossible and when trying to buy near lows market sentiment is against you. My average is 2.68 and I'm ok if drops further so I can push in some more funds. When I bought 2.68 this was way undervalued so it still is even though it's now at 2.52. You have to have courage in your convictions when trading
Is there any bottom in sight for this?????? ...... my average 2.95. The though had crossed my mind as well, riding this down to the bottom is no longer an option as I'm now so far out. Best to invest more at these prices and reduce average? But when? it's down every day when you think it's done, there's more. We're nearing 17 March level now FFS.
Its been going up the last two days from under $40 per barrel to over $43.60 at time of my post.
It always interests me how though it obvious this will instantly add to BP's profits, how they toy with the price for a few days first before allowing it to rise.
Whether that is to see if it stabilises or whether it is to let Institutions buy in I will never know.
We should be heading back to £2.80 to £3.00 imminently if the oil price continues in the same manner and holds at a higher level.
Brent going up big time... and we are down...
Undersold is the right word, the opposite is overbought. the stock is depressed- our time will come, but I fear we will have to wait for the earnings and guidance for the SP to rise.
^ yes : BP seems cheap!
basically at historically lows.
though over next 3-5 years I see oil back at $100 a barrel.
''Confident that BP is undersold and will eventually be worth > 350/400p.'' I may be wrong but do you mean ''oversold?''
I am at £2.65 average.
Confident that BP is undersold and will eventually be worth > 350/400p.
The only question is timing. World is very uncertain right now...
Recovery could happen by Nov (if Q3 results good) or it could be middle of 2021 (covid vaccine)
Thanks