It’s really tough to make any money when Obergruppenfuhrer Kenny Salazar has his jackboot on your throat.
I say, watch BP stock like a hawk... if they ever get through the Obama Administration and this stupid congress and this crisis, watch them bounce back.
The company’s fundamentals are good and a quarter of Brits depend on this company for their retirement. The UK isn’t going to let Obama take over the company without a fight.
If BP can get through this crisis, people will look back in regret at not taking advantage of a buying opportunity.
One example ( not to boast but wanted to share with you ).
Toyota’s stocks was at $94.00 when they announced their brake problems and recalled millions of cars. When congress summoned ( there’s the word again ) their CEO to give him a tongue lashing, their stocks fell to $70.00. I bought a bunch of them. It soon went up above $80.00 ( I then put a stop loss at $78.50 ). The sell triggered a few weeks after they reach close to $84.00.
A 12% profit for a few weeks ain’t bad I reckon.