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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Big Dog who wrote (51273)	9/16/1999 2:10:00 PM
From: SliderOnTheBlack	Read Replies (5) of 95453

HLX wanting "out" of merger ??? Big; - like I said; FGI should appoint you their official IR person... I do not disagree, nor do I doubt what you are saying is fact, never would I... but, the Street's behavior toward FGI is undeniable here... it doesn't matter so much if they are "right", - they got the "might"...and the stock market is one place where "might is right"... Hey; as FGI is a thread fav' here - and one of my former fav's - I hope I am wrong; I have no money either way here...for now. But, I side with the Street sentiment here... that is refelcted in the price action of being down 20% in days; and also - HLX at $5 7/16th here - reflects the expectation of FGI going to $9.98... for parity @ .57 exchange ratio. Anyone want to address that ? - that the street is pricing FGI for $9.98 allready ?!?! The Street "sentiment" - as reflected by the undeniable Tape Action here is taking a "show me the money (orders)" attitutde toward FGI...once again; right, or wrong - doesn't matter for stock trading. That they "are" and that it "is" reflected in the tape - is all that counts as far as trading FGI/HLX here... I "hear" that HLX wants out - that they are receiving major institutional pressure to not take the deal; and that most mid-level exec's do not want the deal. Dane however, "is" pushing for it - not surprisingly; as he becomes CEO of a larger company in 2 years upon JL's pre-announced retirement. The deal was sweetened for more than one reason imho... and it may have to be so, again - to hold it together imho. A major factor is with the "Navy Deal" - HLX no longer needs FGI - at all - with that turning into reality ! I also hear that HLX's engineer's and a couple of VP's feel that they can compete head to head ultimately with FGI - and resent the merger...they felt they were just turning the corner here and there is a major league tug of war going on in my understanding... and the tape reflects that reality as well. If the Institutional players not wanting HLX to merge, short FGI as well - making the the resulting price received at .57 unacceptable to HLX - they win by shorting; yet another reason not to fight the tape with FGI imho. They also leverage the possiblity of FGI yet again sweetening the deal... ohhh interesting stuff here... Barbarians at the Gate ? Just to much pressure on FGI here short term... My brain says short it - ride the easy, greased "slide" down... I'll just sit & watch however... on a break under $10 for FGI - this gets real interesting... I am an owner of HLX sub $5 - merger, or no merger fwiw... I'm smelling big $ trading opp here... maybe an easy 10% downside short to FGI from $11 to $10 at least... I'm gonna have to sleep on that one... ... not trying to be emotional here - it's all about what "is" - not what I, or anyone may "want" it to be... cold hard reality says - short FGI here imho.

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