BP Stock shorted....before catastrophe

[TM7]

Just good forecasting of the usual protagonist naturally.
Look who shorted BP stock....    44%

http://moneycentral.msn.com/ownership?Holding=Institutional+Ownership&Symbol=BP


...TM7
.

[JustaShooter]

You can't tell from that link if those stocks were shorted, all you can tell is they sold under 1/2 of their holdings in BP, which represented 0.4% of their total portfolio.  That's peanuts, it would have needed to involve  a lot more shares and a much larger percentage of the portfolio to be anything significant.

Just a Shooter

[JustaShooter]

That's what I said, but selling stock isn't shorting.  You do understand what shorting a stock means, right?

I also said it was a pittance in comparison to their total portfolio - that trade represented 0.4% of their total holdings. If this were a part of a conspiracy, they'd have had more in this than what they did.

I'm just sayin'

Just a Shooter

[bearmgc]

Sounds very fishy...

[The Hermit]

It would be interesting to see what your senator and congressman did with their stocks. I dumped my oil stocks as soon as there was a glut on the market and gas prices fell.  There will be short term rallies, but it looks like a bear market to me. Money can be made if you have the stomach for it. I like a little bit of volatility, but too many folks get hurt.

   The Hermit

[pmeisel]

Most likely scenario --

BP twists in wind for several months as eventual liability costs are estimated

One or more major oil companies buys a restructured BP.  Their production and refining assets still have value, but their name is lower than whale dung in the western hemisphere.  They need to sell to clean it up.

[jimster]

BP should be giving cold hard cash to everyone that has been affected by their mess up. They should be doing that right now.  Obama administration would want to be the "middle man" of course, too bad.  Now I was listening to Obama talk to the people on the coast on tv a while back...did I hear him right when he said he wanted to make loans availble to those people?  Only the prgressive mind could think like that...ya right...offer them loans while they are out of work.  Real smart thing to say. Can't believe he even said that, what a total loser.  BP needs to cough up cold hard cash to the people out that way, and if we had any kind of decent administration at all they would stay out of it...and even say no taxes to that cash either.

Surrounded by corruption...and who has to pay, the people who's lives have been wrecked by BP's oil spill.  BP won't give them cash like they should, our government would stand in the way because they want a piece of it too...the people are always the ones who suffer.

All the people get is lip service from BP and our current government.

[gypsyman]

My brother is between a rock and a hard place. He's worked for the BP refinery up here for going on 30 years. He has a chance to retire in Sept. and have ,what he thinks, is some guaranteed funds. But, he's only going to be 61. And, he's not sure how much medical and the like are going to go up. But, he's also thinking, if he waits till he's 62, which is Dec. of 2011, not sure what will be left of BP and his retirement. He's got other savings, but doesn't want to lose what he's got coming to him. I told him he ought to take the money and run. The way the world is turning, money in the hand might be the only thing you can hang on to. gypsyman

[Dixie Dude]

From the looks of the 3/31 quarterly report, about half the institutional holders shorted the stock, but about half held on or bought long and lost a lot of money.  It is about balanced, winners and loosers.  This is typical right now.  My wife has been shorting stocks for the last 6 months.  When you think it is going down you short the stocks.  Not a big surprise here.  

BP is also paying for loses along the gulf.  The Alabama National Guard was called out to go door to door along the coast and give people information for getting paid for their loses.