Critical Time for BP Stock is Tomorrow and Monday.

Two critical trading days have arrived for BP (NYSE: BP). After next Monday's market close I think BP will be trading significantly higher or lower versus current levels of around $39/share.

Over the next couple of days BP will attempt another tactic to stop the leaking gulf oil well. If this initial 'cap' is substantially successful and BP is on their way to installing the second cap, with the permanent relief wells well on their way to completion, BP should be a $42-$44 stock. In fact as Tony Hayward gave a more detailed plan and timeline for containment efforts the stock rallied to end the day up 4.3% at $39.27/share.

If, however, these attempts fail, as did the 'top-kill' effort last week, BP stock will fall again into the mid $30s and months of uncertainly will continue.

Again long term, I believe at these levels BP is a buy regardless, however in the shorter term shareholders' fate rests with the 'cap' attempt.