Shares of BP plc (BP) will most likely open up lower on Tuesday as the New York Times is reporting that the Top Kill & Junk Shot procedures are not working. Oil and Natural Gas have been spewing out of this well for the past 40 days with no end in sight. BP says they are still working hard at the Top Kill in hopes to stop the oil leak and cement the well shut.
The next step? Put in place the lower marine riser package cap. This is a containment device that would be put over the leaking well. BP has several riser package caps already made incase one doesn't work.
As for BP plc (BP) stock, it had a nice run over the last two days in hopes that the junk shot and top kill would be successful. Support is located at $40.61, a break below this would be very bearish.
Top 2010 Stock Gainers - Top 2010 Penny Stock Gainers - Today's Biggest Gainers
For more stock market updates, go to: http://daytradingstockblog.blogspot.com
