>>>>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

Perhaps following in London as well might give you more ideas. While I agree that fundamentally the spill fallout cannot
come even close to the sums already lost on the market, any rise would translate into more posturing from Obama.
And if you look at the volume since end of April, it is staggering.

So I don't think we have seen the bottom yet.

regards

thomas