Member Info for Paddyboy1

I'm thinking of investing in here when these dip down into the 30s again. This looks to me to be a decent company to hold for a long while (2-3 years) i don't really understand the short term bullish comment on here though. This is a retail company which is basically unable to trade almost at all & that will only get worse in the next few weeks. I'm quite surprised it's held up as well as it has actually but significant rises will only begin here after bad news of FY results is released & behind them. The dividends will never be at the previous levels again. If they get reinstated will be at much lower levels!

you mean low supply high demand surely. Economies are reopening!

let it hit 3, then 4 first. No point in dreaming of 6 when you not bought the shares at these prices. Savour these prices while they last & load up while you still can get shares for silly prices!

Numnut, i'm no great expert on the commodity supercycle stuff but have read a few articles related to the suggestion. I'm invested here & follow the industry /other related stocks etc. There seems to be a train of thought that the green stuff is being way overdone largely as a consequence of covid & from what i can gather, a view that too much decommissioning will take place due to the green pressure etc. A realisation will dawn of the still growing demand for oil especially from the developing/BRIC world along with an inability for renewables to satisfy that demand. As such you have ever increasing demand but less resource in place to extract the commodity=shortage of supply=higher oil price! I have hear some speculation that OP could near $100 PB by end 2021. All ifs buts & maybes as we all know but that's my understanding anyway!

Peace & Goodwill to all BP Oilers. Till Tuesday anyway when hopefully nice big gap up! £3 awaits us anon!!!

Matty, i'm not sure how IG works but could be an income tax related charge as dividends taxable over £2k pa!

in 2019 BP was extracting 2m BPD of oil. $15 profit per barrel, so $30m profit per day. i don't think BP will be reporting a £100m profit in February somehow!

Good point BB, panic is your enemy. Forget the BS going on around, the core fact is OP is still $50+ PB. That is $15 profit in BP's bin ready for a lovely February profit report when the SP will be way over today's price. Patience not Panic!

About 3-4 weeks back people would've been cracking champagne at the current price levels. No cause for alarm. This will be back up again shortly!

So almost all shares on ftse indexes have dropped 5-10% today due to chart movements?

Geng, straightforward question then. Is today's drop due to chart movements or Boris's announcement re lockdown? straight one or the other will do as an answer!

Tacet, my view is to wait at the moment. Personally i have some spare cash but i'm not buying yet. This downturn will continue for a good few days yet. I think BP will stay above the 250 & am hoping to pick up bargains elsewhere. If this dips into 240s, i'm topping up again!

Today's downturn has nothing to do with TA/charts or gaps. Boris incompetence that is all!

Remember the song by The Bangles: Panic Monday!

If Oil price stays above $50 a barrel, i don't care if SP dips as it means money still gushing into BP's revenue pot which we'll hear about in February. February's SP is the one i'm bothered about!

who cares, temporary blip. got to be crazy to sell!

flan if you wish to hold long term 269 is v good price (25 year low). In my experience try to avoid buying & selling too frequently. The costs will eat into any profits you may (or may not) make! investors should avoid trading on intraday dips which for sure will probably happen tomorrow. Those days are days to pick up more bargains not sell what you have!

All depends on people's levels of holdings also. Be aware you can only get £2k in dividends tax free per year. This has come down hugely in recent years. I suspect because of C19 all tax allowances will be trimmed in the next budget as well

i would also add as advice that there are shares out there now trading at way too high prices since post vaccine euphoria. E.G. IAG i has traded recently higher than it was in August 2019. This is madness. RR the same. These companies are losing billions. The market is due some serious corrections which i think will occur very soon!

i understand your logic Tacet & agree partially. For sure every share has a peak price which it will come down from. Even the Tesla bubble has to burst at some stage. Of course most of us would've sold @288 the other week if we knew it would fall again as we could buy back in again at a tidy profit. It is all about risk vs reward! Personally i have half my holding here in an ISA & the other half outside the ISA. I have a short term target for those latter shares around 330-360 @ which stage if i see other shares offered at good value/high growth levels i will have no issue with selling the BP ones to buy elsewhere. I will keep the ISA shares long term as they offer a high level of secure investment (think building society deposit). For me that is why BP at the £2 level which i bought at was such a good buy!