[gbarbs]

BP popped above its long term downtrend last week. I didn't do anything with it, but it is up today with some volume. I am not sure about the sector on this one but it is a nice value stock with a dividend almost 5% so worth a look. I bought some in my separate IRA account and took a flyer on a Jan 15 50 call which would increase substantially on a rise to say 60. If they settle the Macondo well costs, it could remove some uncertainty surrounding the stock so I am gambling a little but with an appropriately small amount.