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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Paul Senior who wrote (65816)	6/13/2006 12:39:20 AM
From: fp_scientist	Read Replies (1) of 206266

" fp investor's idea of TS (Tenaris, the acquiring company) posted 4/'05 was (and maybe still is) the cat's meow, imo. " Is this good or bad? <g> Beyond my English, sorry. Amazingly, I own zero shares of TS tonight after getting stopped out of my last bunch earlier today. The buyout is a great move business wise for TS as this grants them access to the US OCTG market (which they currently don't have access because of an old trade dispute-- the US government imposes tariffs on them and reserves the right to change the tariffs after the sale is done for up to a couple of years. Ergo, they don't sell OCTG here except for the very high-end which they are the only world-wide manufacturers). Market wise, bad timing, unless everything rebounds tomorrow which would then be perfect timing. They are paying 40% above market for MVK, which sounds expensive, so conventional wisdom is that acquirer goes down ... But the market is the market and the verdict will be handed tomorrow. And we all know how rational the energy market has been behaving recently. fp

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