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Agm today...
Brent and US crude up 0.5%ish. Not that it makes much difference to the BP share price in the short term, but I’ve not seen brent below 65 in a while. Be interested to see whether BP push out a mid quarter RNS. I certainly can see a positive update in the next few months.
Adr slightly up last night at 3.065
Hope everyone voted down that green nonsense proposed by the Greterati. They should be ashamed of themselves; as fellow BP stockers, they seriously need to wake up snd get with the programme.
AGM tomorrow the market rarely likes what looney has to say, but I do feel everything was oversold today should be a interesting day. Exxon ex dividends day also hmmmm?!
We will see. I have a strong suspicion that a new paradigm doesn’t exist and you don’t want to be holding paper when the music stops and it turns out that the emperor is stark naked.
"Hopefully Tech will tank. I'm looking at getting some bargain buys over there, but there will have to be a pretty meaty correction before I start to add"
Just listen to Warren Buffet's answer to a question regarding, so called, crazy valuations of quality tech stocks. Start to about 30secs.
https://www.youtube.com/watch?v=nXOVC1UP3HU
With Looney at the helm it's hard to have any faith in a sustained share price rise. Thus, trade the pants off it to make up for Looney's incompetence.
Traders Smithy, i did same last week sold holding pre ex divi and bought in again today i,ve increased my holding 3% more inc 1.25% for divi. I did same quarter before for 4.5%. Everyone see value at different prices alot see Bp going sub £3 again. Would i trade like this in more normal stable conditions not a chance.
Buffett is damn right. I want to know who the Oiler fools are who are selling their BP stonks in the face of the underlying commodity, which BP pumps at the ground at a fixed dollar price, rising massively?
All I can think of is holders of index funds are selling; fund managers have to hold fixed ratios of stocks in accordance with market capital values.
Darn lunacy I tell you, and a great buying oppo! Same with Rio Tinto falling 2-3%.
Hopefully Tech will tank. I'm looking at getting some bargain buys over there, but there will have to be a pretty meaty correction before I start to add.
Smithy,
Todays rout is all about in inflation which is 2.6% in USA and rising. The fed is expected it to heat up further but the question is can they control it and get it back to their 2% target when they need to. buffet thinks we will have more inflation.
Interesting video....
https://www.youtube.com/watch?v=nhFj668g4zU
'Can’t understand why a sell-off involving inflation concerns, including raw materials. would wipe 2.4% off of Rio Tinto'
presumably same thing stopping difference between $50 and $68 oil reflecting in BP SP.. 'vive le rachat'
Can’t understand why a sell-off involving inflation concerns, including raw materials. would wipe 2.4% off of Rio Tinto. Absolutely bonkers.
Fair sized move downwards in the USA after we closed at 4.30 pm yesterday. As a result the rest has followed this morning. Nothing unusual.
Reversal candles on charts can signal a change in direction at the top or bottom. So at the top we have that spikey candle.
https://stockcharts.com/h-sc/ui?s=$INDU
Keep saying the USA has had a great run. The distance from to 200 day moving average is very extended at around 15% above . That's one of the biggest you'll see on average.
https://pbs.twimg.com/media/EzargtuVEAYAhMs?format=png&name=900x900
In BP's favour there's been a move from growth to value around the world.
https://pbs.twimg.com/media/E1F7DiAWEAAqreR?format=png&name=900x900
Still above that 290-310 range for now.
https://www.lse.co.uk/ShareChart.asp?chart=technical&sharechart=BP.&share=BP
I've bought 3/4 back, keep some powder dry for lower if it comes
Well, back in at 307.8
The SP could well go lower, but I'll hold through.
The FTSE has been proper spanked so my opinion right now is that the bottom of this channel will hold.
Some point during this year the dividend will go up and the SP here will rocket.
Cheers all and GL
The FTSE went to to the top of the recent channel. The bottom of the current channel in the FTSE chart is at about 7000. The BP channel is different. It's more robust I'm ready to buy back in less than 308.
Cheers and GL.
Someone like Ceders will have a more experienced charting view.
Looks like a bad day for the ftse today after a strong week. Fingers crossed BP holds up!