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.
I just hope they toss all of their envirowacko “advisors”. Toyota started plastering us with their “green” ads and the envirocommies turned on them. BP came next with their stupid “green” ads and look where they are. If you lie down with dogs...