Capitulation in BP

The death plunge in BP looks like capitulation to me. I don't have the cojones to buy it but it sure looks like a bottom.

2 comments:

Anonymous said...

If they actually do cut the div the stock could drop another 10%.

Tsachy Mishal said...

I'm only referring to the price action. The drop in the last two days. It reaks of people just giving up, which usually marks a short term bottom.