Bp Share Discussion Threads

[prambigear] 17/6/2014 09:30

Aye
Russia, China, ...
BP is beginning to be a serial risk taker!

[dafrog] 17/6/2014 08:12

hxxp://news.sky.com/story/1283405/bp-and-shell-land-china-deals-as-premier-visits

[penycae] 16/6/2014 09:37

Morning all.
ADM doing nicely on the dark side. Covered half the monkey's short, stops at break even on the rest.
The GBP is showing surprising strength. Got some underwater shorts there starting to sting a bit, but I reckon they'll be OK by the end of the week.
BP, as ever, continues to amaze me from a trading perspective. Only way to handle it is with large positions (either way) and very tight stops. a two or three point profit, then head for the exit. No good looking for big moves. If you get a 65/70per cent success rate, you'll come out on top.
Watch WTB tomorrow.

Trade well and prosper earthlings.......

[bracke] 14/6/2014 12:40

Dean

It's certainly 'taken off' since the drop to 1380's with little retrace which is why I suggested one may be due on the lower time frames.

You will notice I mentioned the possibility of a rise to 1620.

It will not have escaped your notice that it is back at the high of early March so it needs to decide if it is going to break upwards or not.

[deanforester] 13/6/2014 23:45

Bracke, ADM has only just recovered from a fall to the 1380s, as I am acutely aware, having bought in March at over 1500.

[bracke] 13/6/2014 19:18

Good evening Penycae

Yes it takes an Elite Guru such as I to spot these things.

Regret did not trade SHP a number of things going on at present.

ADM does look interesting. On the longer time frames I am thinking it may reach 1620. Shorter timeframes ok for a retrace to approx 1530.

[zulu001] 13/6/2014 18:30

Useful detailed background on Iraq situation:

[penycae] 13/6/2014 17:29

Evening bracke!
Black Swans and 200 sma's in one post. Guru status confirmed. Did you take a few quid off the bookies with SHP?
Although it pains me to say so ('cos they're Welsh)!the boys at ADM look worth a dark side punt.

[bracke] 13/6/2014 17:17

mb

I still hold to my 'predicting' post. The situation in IRAQ (Black Swan) may delay the drop but unless the share price break out and holds beyond 514 there is a strong probability that it will revisit the Daily SMA 200 which is currently at
478.

[penycae] 13/6/2014 12:11

mb - buy low, trouser the divi and sell high! Can't beat that as a way to go.
Bracke'll be on here in minute giving us both some stick, so I might just disappear with the surviving hound.
Mentioned SHP as a short a day or so ago. Paid off today, but still nursing some Euro longs. Euro seems a one way bet at the moment, but you've always got to bear in mind Germany is in there somewhere.

[mbthedude] 13/6/2014 11:46

Penny

Couldn't resist as every time bracke talks about the price dropping back to some previous support level it then does exactly the opposite.

I don't trade much very much at all nowadays so just purchased a chunk in BP after Macondo in the 350's on the basis that it should recover slowly but surely and now take the shares every quarter which on my original purchase price is about a 8% return.

[penycae] 13/6/2014 11:12

mbthedude - I happen to know that bracke is a senior analyst with Credit Suisse. Make of that what you will, but all that charting waffle comes in handy on times. The charts are there for all to see, but not everybody knows how to read them.
Just as a matter of interest, what makes you take a position? Momentum, news or volume might be factors, but the old red and blue darts work for me.
Trade well and prosper.......

[mbthedude] 13/6/2014 07:06

bracke read your post umpteen times you still state that (your charting waffle) previous price action suugests it WILL reach xxx by date xx which is stating a future event and what any normal person would call a prediction!

Are you a history teacher or something?

[zulu001] 12/6/2014 16:14

BP has no refineries in Iraq. It does manage drilling sites operated by Baker Hughes and Schlumberger in southern Iraq.

Sunnis taking control of Baiji and Mosul in the North, should not affect BP operations in the South (Rumaila oilfield, near Basra). Three quarters of Iraq's oil production comes from the South and is, currently, unaffected.

[bracke] 12/6/2014 15:24

supermarky

One might think that whoever controls the area in which the refineries are located would want the revenue but BP or any other company would be unlikely to hand the money to rebels.

[supermarky] 12/6/2014 15:03

Could bp's facilities in iraq be targeted by all this unrest? I understand why the oil price has spiked however if their refineries are overrun and the country becomes so unstable?

[bracke] 12/6/2014 13:35

and Mr Blair will still say it was the right thing to do.

[penycae] 12/6/2014 13:19

Yep, it's an ill wind......
We did a lot of damage over there.

[zulu001] 12/6/2014 12:50

Oil prices shot higher Thursday, after the seizure of two Iraqi cities by militants shook market confidence in the reliability of the country's crude exports.

The price of a barrel of Brent crude reached $112.29 on London's Intercontinental Exchange, just 10 cents below the 2014 high.

[penycae] 12/6/2014 09:01

Morning all.
Still flat on the DOW. They'll take it a little higher before another fall.
Short cable, adding to Euro/GBP longs.
Trade well and prosper Earthlings.......

[neilyb675] 11/6/2014 22:41

bad stuff in Iraq

[penycae] 11/6/2014 19:00

Evening all.
Just covered DOW shorts. I think there's still a lot to be had on the darkside, so I'll re-enter after the bounce.
Could see 400 points off the DOW from here, and still be in an uptrend.

[bracke] 11/6/2014 09:57

Good day Penycae

Sorry to read about the hound.

The surviving hound will have a wonderful time 'lording' it over the pup and teaching him/her bad habits.