Who thinks BP is a good play right now?

[Scanner]

With all the usual disclaimers - for the speculative part of your portfolio only, of course.

I tend to think it's a good play. Unlike the banking crisis, which shook the banking system to it's knees, I think BP's financial health should remain stable and rising oil prices (or even steady) will only benefit the company. It's down about 45% when I last checked. . .I think it's a good buy.

The American People will forgive them easily in exchange for placating it's thirst for oil.

[Broken Arrow]

If you feel strongly enough about it, feel free to put some money into it.

If you decide to, feel free to share the strike price and % of your portfolio you're buying into this position.

[jefffou]

The only thirst greater than that for oil, will be blood.

There are some serious, very serious, legal folk getting in line down there. They cannot wait to sink their teeth into BP. Public/Political pressure will get pretty fierce. I don't know how many baby birds covered in oil I have seen over the last couple of weeks, but it's a lot.

BP will have their hands full trying to stay alive, much less make money. But, time will tell if they can hold up.

[minnie1928]

The only thirst greater than that for oil, will be blood.

There are some serious, very serious, legal folk getting in line down there. They cannot wait to sink their teeth into BP. Public/Political pressure will get pretty fierce. I don't know how many baby birds covered in oil I have seen over the last couple of weeks, but it's a lot.

BP will have their hands full trying to stay alive, much less make money. But, time will tell if they can hold up.

I agree with Jeffrey...I think the legal issues are going to be the problem that sticks with BP over the long haul. You've got the environmental issues, people losing their jobs because of the impact on local industry, health impact of cleanup workers, health impact of local communities, etc.

I love a good deal, but I don't think this one will ride out.

[Scanner]

Oh, I was only thinking 5 or 10% of my portfolio - 100 or 200 shares for me. .usual speculative amount because unlike silver or gold. . .or with a diversified mutual fund. .there does remain a chance for 100% loss.

Oh, I know this is gearing up to be the most litigated disaster of all time. But oil is oil and we need it, even pinko, tree huggers, and BP has lawyers too, who will delay and obfuscate while they continue to operate and take advantage of oil in the meantime.

I mean, if I were a lawyer and talking to regulators, I would be saying things like, "Well yes, we hope you are not too hard on us because we'd hate to have to shut down a few oil rigs while we make necessary modifications and delay barrels of oil to the US shooting up the price $20-30/barrel. Maybe we can just work something out here so this unfortunate event doesn't happen again."

Exxon is still here and I think BP will still be here.

In other words, we are years away from a settlement, although they will be paying for clean-up in the meantime.

[Hector]

I don't think its a good bet after latest failure in stopping leak. It won't surprise me if they will cut their dividend coz reserved 7 billion cash might not be enough in cleaning this mess and to pay probable fine because of latest criminal charges.

[kork13]

Personally, I see BP as still on the down-slide. There's still alot of pending actions out there coming down the pipe (puns anyone? ) -- "legal folk waiting to sink their teeth in", as jeffou said it. I'd wait for some of those to pan out before jumping in. Perhaps buy slowly on the way down, but I wouldn't put the full investment in right now. I see BP's stock continuing to fall.

But I do agree with your general position -- BP is a solid company, and I expect they'll stay that way. This is a blip (albeit a rather catastrophic one at the moment)

.....since it's easy to tell other people what to do with their money...

[JBinKC]

On a rebound from this crisis of the affected companies I would rather choose Transocean or Anadarko as they have much much higher growth rates than BP.


Why buy BP for yield that might not be maintained in the future when you can get TOT for almost the same percentage yield without this assorted baggage?

[Broken Arrow]

Why buy BP for yield that might not be maintained in the future when you can get TOT for almost the same percentage yield without this assorted baggage?

Bingo.

[tripods68]

One thing i have to say about BP - SELL SELL SELL!!!!!

[FHA Loan]

If you're curious as to whether BP is a good play, I suggest you research Exxon's stock before and after the Exxon Valdez ran ashore in Alaska. I imagine there will be lots of similarities in the outcomes from a stock performance standpoint. Only this time it didn't happen in the least populated state in the nation inhabited mostly by native Americans w/ low education standards... It's effecting LOTS of states that depend heavily on not only fishing but also tourism. I consider that as well when researching what happened with Exxon.

[chuckhughes]

bp

they really have not take much responsability for the oil spill. obama have to interfere and our taxes keep paying for the rich mess up.

[chuckhughes]

bonds

bonds are good to get them for kids. after so many years you have double the money. invest is really good.

[tulog]

If you can accept risk, BP could be a good play as long as it can hold $35.

Resistance at $35 and $31.11.

[Slug]

If you're going to speculate, just buy some call options. I don't think you can trust the dividend (despite a VERY solid balance sheet).

**Disclosure** I already bought a few hundred bucks of the stock. I'll probably buy some long-term options too.