>>>>>I'm reading still large packets being unloaded:
>>>>>on the mass sold between 8:00 and 8:15 the dip betwen previous day
>>>>>and the spread for the rest of the day is more than pocket change...
>>>>>
>>>>>But it is coming nicely into the area where one can wait for a few years and still get a nice average return ;-))
>>>>
>>>>We're bouncing back nicely here in the States today. BP finished strong, up 12.8% and very close to intraday high.
>>>>It should be noted that yesterday's low of $29, was a bounce off a fibonacci line using the 1992 low. 18 years in the making!
>>>
>>>Just a few minutes to see if another bulk package will be unloaded after opening up for the day.
>>>Wonder how many daytraders have picked up on thsi pattern and are gambling on it...
>>>
>>>regards
>>>
>>>thomas
>>
>>It's 9:41pst and something, I'm not sure what exactly, but something is happening. On the open it headed down to 29.85 with the Congressional grandstand party, His Obamaness' pending Oval Office address to tell us weeks later how in charge he is and the pending dividend announcement. That made sense. About an hour ago, the stock shot straight up to 32. It now sits at 31.50.
>>
>>SET HEAD SCRATCH ON
>
>I think the big question is whether BP will go down completely or come back, say in 2-3 years. If you think they will be back (even if it takes 2-3 years) and get their stock up to, say 40, it is a very good deal now.

Not only do I believe they'll be back, but I've spent the downslide moving a solid portion of my 401k into BP. This is one of the largest oil and gas companies in the world trading at a price which has not been seen seen since the mid-90s. Opportunity is knocking. LOUDLY!

Consider :
BP has $240 billion in assets compared to $135 billion in liabilities
Expected cash flow for 2010 is $30 billion and ~$120 billion for the next three years.
High end estimates put the cleanup costs at $50 billion and despite the monotony of blame, BP has partners who are on the hook for a percentage of the cleanup as well.
So I'm likely to miss a quarterly dividend. Small price to pay for a high-yield stock I may hold for the rest of my life.