When will it be time to pile into BP shares?

[Clippy]

No way, iii and Motley Fool posters are still predicting a drop.

Still risky IMO.

You think so?

I'm kicking myself for not jumping in at 337p yesterday.

[Scrag Meister]

No way, iii and Motley Fool posters are still predicting a drop.

Still risky IMO.

I tend to agree they always fall a lot, and rise a little before another large fall.

There is no cap on the 20Bln allocated, so could end up being more.

[lukemg]

Every chance there will be another dip, if you think you can guess the pattern, you are wrong. Huge teams with big resources and access to up to the minute research are still guessing. There can be another blow-out, trouble capping, relief well doesn’t work or gets delayed. It’s gambling on horses using a pin, you might get lucky but that’s all it was.
However – fundamentals are good, BP haven’t stopped generating huge revenues, there is some certainty on expected liabilities, oil price isn’t going down much anytime soon. This will blow over and the dividend will return, I bought mine ex-div so glad they aren’t paying it !
Think long term and small exposure, if it dips you can always lower your average price with another tranche. I am looking at an investment sheet saying BP are a buy at 637, this is a week before the blow-out. People are fearful – that makes it the time to buy !

[Clippy]

I thought the Republican senator summed it up well, before he had to retract his statement- see below:

A row erupted within Republican ranks after another Texan Republican, Joe Barton, suggested BP had been subjected to a "$20bn shakedown" by the Obama administration.

Mr Barton, the senior Republican on Mr Waxman's committee, was rebuked by his own party leaders and retracted his words, the Associated Press reports.

"I regret the impact that my statement this morning implied that BP should not pay for the consequences of their decisions and actions in this incident," he said in a statement.

[minestrone]

Arrrggghhhh.

Indecision.

[fullyautomatix]

Now down to 334 pence. Anybody still risking piling in ? I am tempted.

[TimberWolf]

BP

I would have put this in the official BP thread, but the search 'tool' gives the following message :

The following words are either very common, too long, or too short and were not included in your search:
bp

BP shares are on the slide again. But more tragically, 2 more are dead.

Oil from the BP oil spill disaster is spewing again into the Gulf of Mexico at nearly full force after a venting system connected the so-called containment cap over the blown-out wellhead was damaged in an accident with a robot sub, said Coast Guard Adm. Thad Allen, the commander in charge of the government's effort to control the 65-day-old spill.
COO Doug Suttles is dispatched to Florida's Pensacola Beach to oversee cleanup.

Separately, Allen said two cleanup workers have died in unrelated accidents in the Gulf, the first deaths reported since 11 people died in when Deepwater Horizon drilling rig burned and began the crisis in April.

Allen said the small sub bumped into the venting system connected to the containment cap. That sent gas rising through the plumbing that sends warm water down to the cap to prevent solid crystals -- known as hydrates -- from forming in the cap.
BP Oil Disaster: Two Deaths Reported in Cleanup; Containment Cap Loose From Well - ABC News

[DimPrawn]

Not as despondent as me. Owning a shed load of their worthless shares.

[Clippy]

Found the original thread.

Mods can we merge this thread into the original please?

[d000hg]

Not as despondent as me. Owning a shed load of their worthless shares.

Maybe I'll buy them off you.