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Charles
Thanks for your post
You don't need to wait 6 months for 400!!!
You get that far sooner (IMHO), this year
BP. is just started
GL
I meant Ive held since Feb 2020, not 19. typo.
Hello. Im just putting in my ten pence worth. I have been an avid reader of this board, but rarely post. I thought the weekly price guesstimate thing a total waste of time. And i have seen a slow transfer of posters on this board from the trader brigade to the long term holder brigade. (mostly, as i see it)
I have held from Feb 19 and kept buying and buying, so my average got lower and lower. At one point i was average 270. But fear and poor trading got to me to average of 286. I sold out last week @ 317. on a value size of a decent flat. I am not a natural trader and i found the stress hard at times to cope with given i have the funds mentally allocated for a new project. So ive missed out on a fair chunk of profit from 317 to 330. But ive turned a 50k loss into a 50k profit. Ill keep an eye out, i may be back. Keep up all the messages- the good the bad and the ugly....
I agree, especially if just sitting in cash waiting for a crash. I sold a few but still holding my free shares.
https://www.youtube.com/watch?v=fFtGfyruroU
I must admit I was originally going to ‘settle’ for £3.30 as my average was £2.57 having already realised a hefty profit from avg £2.15.
However, with things as they are now won’t be taking anything less than £3.50 (feel it will hit £4 and over but I’m not greedy). 26k shares and holding.
Shame I sold £10k worth at 3.21 but hey ho
The 2030 target is a tad fuzzy re reduction's .... take the Iraq deal to hive off with partners to separate company. Millions of barrels just removed from the target in the stroke of a pen. Take Rosneft production that neither is part of the target.
BP is being very smart as moving production yet retaining the revenue stream. Selling assets , but apart from Oman the lifting price per barrel is high. Therefore the average lifting price will go down and down.
3rd qtr buyback still circa $2 Billion I reckon. Now if trading have a blinder then this could increase quite a bit...
Zac
Always enjoy reading your posts
Wise, clear, honest and always powerful
You are bang on the money with your post here,
People sell because they happy with their profit in one hand and on the other hand they always worry about the unknown and perhaps thinking they have reach the pick of this cycle, none of that really matters and all good if you have your reasons, your strategy or whatever
what is regretting are for those who may look back when this goes above 400 in no time (IMHO), so they missed the boat.
Remind me RR. when people were selling recently at 120 and always said stick with your investment if you are long termer stay long termer don't sell on small rise, and don't check the price on daily basis if confidence with fundamentals; this is not AIM to drop like a stone and with great divi I have every reason to keep holding this even beyond Q2 of 2022 where I think the oil price will be way above $100.
BP. Will be rocking for years to come, we already know the 2030 target is nothing but a show of green publicity and targets will NOT be achieved and in the mean time oil are here to stay longer and even more needed.
All the best
DYOR
theres a pivot of three resistance lines at 405p on 20th oct, thats where the top of the channel is pointing since last 2 weeks, i would think it will roll over before then, algorythms often lock onto pivots as a target but not get there but might happen if oil continues to rise. A more likely scenario might be that a cycle top will be reached at intersect of main channels up from march 2020 low and nov 2020 low, at 435p late december, this would also coincide with the meeting of two resistanvce lines on brent at 103 dollars in late december as well, maybe
It's entirely up to individuals when they sell. However, what I do find strange is people selling now who a short time ago were claiming to be in this for the long term. What has changed?
I am pretty critical of BP's overall return to shareholders over recent times but I've stated many times on this board that I'm prepared to hold until at least q2 2022 in order to give it time to either recover or demonstrate to me that the sp isn't going to recover.
I know I can't time the market so I don't bother trying. It's unfortunate that some people don't know they can't time the market! I've been an investor for decades and over the years I found that the harder I try and make money the less I make. Simply buying and holding has been by far the best strategy for me over the years and I'm sticking to that even though this is probably one of my worst investments currently! I'm currently giving it time!!
Just look at the fundamentals!..
Only one way this is going.