BP , again.

bp june 2010

We stick with the view that should get a recent bounce, either because the Arabs are going to inject capital, or at last they will make progress, or, and this is not that unreasonable, they are successful at deflecting some of the culpability on their partners in crime. In any case the symmetry of they down legs that suggests we should get a decent bounce soon. It is also down a near perfect 62% over the last two years. Stay with it.

By the way I mentioned Phillip Morris (MO) as an example of a stock that should have ended life given the sums of money that the courts figured they should pay the complicit governments for causing so much damage to the health of mankind and, by extension to the costs of medicine and healthcare. Incidentally, the latest take on this is that smoking actually diminishes these costs as people move on at an earlier date and avoid the most expenses years of their lives by signing off early. Look at this chart and wonder how MO was burdened by the damages it was assessed.

MO, june 2010