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Registered User
Joined: 11/1/2005
Posts: 240
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BP has a price spread,less than 10 to 64, anyone get in on that?
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Registered User
Joined: 3/25/2005
Posts: 864
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Yeah, this one is definitely dependent
on the direction of oil prices.
I can see it rising at least another
$2 to $3 before the month is over
only if oil prices continue to strengthen.
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Registered User
Joined: 11/1/2005
Posts: 240
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That morning BP had a mistake on the chart, it dropped to less than 10.00 than back to where it was trading above 64, that one of those that got away?
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Registered User
Joined: 1/12/2006
Posts: 296
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There are few posts on more pricy stocks, which generally apply to position traders - thought I'd provide some info.
Art Laffer (of the "Laffer Curve" fame) predicts oil will come down sharply (no price specified but you can infer $40/bbl). He also predicts the stock market is an excellent buy at this time (notwithstanding certain sectors).
I've also come across activity on futures contracts, where downside volume increased markedly (2-3 times normal) during the end of 2006, and yes we've had recent $ advances in energy related issues, but we are talking futures )front month and continuous contract). What this implies is a pending drop, after a recent and good run-up. Recognize that there are about 9,000 hedge funds and most are very short-term oriented - relate this to the breaking of support (futures) in latter 2006. There is also speculation of a H/S top.
Protective stops are good and if you get stopped out, a buy at a lower price is beneficial. Long-term, energy is a very good place to be, including alternative.
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Registered User
Joined: 11/1/2005
Posts: 240
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board not working today, BP is or was below 10.oo again today, some one pickin on BP ??
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