Friday, May 15, 2009

Long: BP on a pullback

BP Long on a pullback.  The fed wants some inflation and we'll surely get some with any recovery.

Unless Obama outlaws the internal combustion engine (hmmm, not a bad idea, really), we'll still need oil.

BP is the best of a weak crowd right now and sports a 7.3% dividend for safety junkies.  Boring and not meant to be traded in and out.

I'd still wait for apullback or get half a position here with the plan to add later.

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