On top of all the costs you can think of that BP is going to have to pay for the next 5 years for this huge environmental disaster. They have also done some permanent damage to their reputation and the brand.

Not too mention, now they are still going to pay that dividend, I think this (stupid) move will cost BP dearly in the medium to long run as long as Obama is in office for the next 3 years of 7 years if he gets re-elected.

A lot these big oil company's deal making needs to have good relationship with State and Federal Government officials, they are not going to make any friends with that dividend payment.

good points, but i feel that with all the industrial lobbists in Washington, any long term effect on BP and big oil companies will be limited, America's addiction to oil hasn't gone away, not before, not now, and most probably, not for some forseable future...remember the oil crisis back in the 70s' how America was basically held as a hostage and was at the mercy of the major oil producing nations of the middle east?

Obama's move to stop all offshore drilling will eventually back fire on him, with all the uncertainties in Europe and debt problems worldwide, one of the only things that are driving the markets now are commodities, decreasing the supply of crude will just make matters worst, not to mention all the jobs that will be lost if the offshore drilling stops and all the spin off economies that will be affected because of that

America's addiction to oil has not changed but BP's way of doing business in America has certainly changed in the past few months. I was actually looking through their 2009 Annual Report and BP has characterized deepwater Gulf of Mexico as their largest area of growth in the United States, which is troubling. And if you can look at the revenue stream in terms of Geography a big chunk of BP's sales come from within U.S. and this goes back to what the impact this spill has on their current and future businesses.

These guys don't report until July 26, the conference call will be very interesting to say the least. You can also bet the the CEO is getting a lot of phone calls these day from some very pissed off shareholders, although many of them already jumped ship. Just check out Google finance's stats on BP, their stock is only owned 10% by institution compared with XOM 48%, COP 71%, and CVX 63%. Could this mean a bottom is near?

Just wondering...is it normal to be charged two trade fees on one order? I do my investing with RBC online direct investing. In the past, I've been charged only one fee per order. However, I recently bought 750 shares of a low-volume stock and my order was split into two orders - 700 and 50 shares, and was subsequently charged two transaction fees...is this normal?

Are you sure you're getting charged $29.95 twice?
Usually when my order is split in two, the transaction fee is split between the two.

Questrade is the same, if you do not select the 'all or none' option, it is possible for your order to be filled in 2 transactions.. in which case they charge you two transaction fees as well.

When in doubt just give them a call. Heck RBC are robbing you $30 just to execute a simple buy order when it only cost them just a few pennies with electronic routing. The last thing they should be able to do is answer the phone call.

Yes, I checked I was definitely charged the fee twice. I tried to select the 'all or none' option, but it was blanked out and I couldn't select it...I'll give them a call, but I have a feeling it won't go anywhere since I think it does state somewhere in the disclaimer that it may be separated into two transactions...

I also bank with RBC.
A lot of times they split my orders in two but have never been charged double.
I'm sure they'll reverse it if you give them a call...good luck

I believe if they are able to fulfill both orders on the same day then there's only 1 charge. If the fill orders were executed on different days, there there's 2 charges.

Here are the trade commissions for RBC:

Canadian & U.S. Exchanges

0-29 trades/quarter and less then $100,000 in household assets Up to and including 1,000 shares $28.95 (Cdn or US) per transaction

Greater than 1,000 shares Stock Price Commission
Rate
$0.00 - $2.00 1.5% of trade
$2.01 and over $0.03 per share
Minimum Commission $28.95 (Cdn or US) per transaction
30-149 trades/quarter $9.95 Flat (Cdn or US) per transaction
150+ trades/quarter $6.95 Flat (Cdn or US) per transaction
$100,000 or more in household3 assets $9.95 Flat (Cdn or US) per transaction

So as long as your trade orders for 1 stock is less than or equal to 1,000 shares on any given trading day, you pay $28.95 or if u complete more than 30 trades per quater, or have over $100k household assets, you pay $9.95, but if u purchase more than 1,000 shares for any given equity, then just refer to that chart, its based the price of the stock

anybody got an opinion on insurers? especially MFC?

it's taken a beating lately (hitting 52 week lows), but im concerned about the risk with its balance sheet, but i like their exposure in emerging markets like Asia where i see growth...what do u guys think?

anyone here use optionsXpress?

very bullish news for US equities from china over the weekend regarding the end of the RMB/USD peg. At this point, i'd look to establish long positions up to about 10,900 on the DOW, pull back a little from there and then make a higher high than what we saw in april.

Possible Double Dip?

Seems oddly familiar, with the wild swings the market is having. Not to mention the bad news on a consistent basis, and even the Chinese news was pretty much shrugged off (Futures were up over a 100 basis points, Dow closed just slightly under I think, on that day).

Dug up some of my old CAN posts, anyone else still accumulating? Been busy so haven't been posting here much, but on April 28, 2010, Daniel Earle one of TDs top analyst put out a report on CAN with a price target of $1.25 and made comparisons to VEN properties.

CAN hit a new 52 week high of .99 just on Monday, I like the future for CAN :thumbsup:

this market is in trouble!!

Telsa went on the market today... Went from $17.00 this morning to $23.89 this afternoon.
I'm guessing a couple people made a couple bucks today.. lol

anyone tracking DSCO??? what do you guys think? worth buying?

Rumors are that the ceo is broke and going through a divorce...

thoughts on BP? anyone looking at buying and if so when?

Read that too, but the reason the CEO is broke is because his cash is tied up in various companies, such as Tesla. His bank accounts and such might show minimal cash, but his...equity...is insane. This guy is a genius.

damn the s&p's couldnt hold 1050, i guess its gonna drop some more

good news came out from CTIC today!

It's pretty easy trade for BP actually. You can buy like at around $29.50 right now and set your stop at $26.50 which is the low recently. You risk 10% but if BP do get taken out by Exxon or Royal Dutch Shell or just any good updates regarding the 2 relief wells, I think your gains will be a lot more than that.

However, remember it's hurricane season which will affect the clean-up effort and introduce a lot of volatility to the stock itself. Which is why I like RIG and HAL a lot more than BP.