Strictly: Drilling and oil-field services Message Board

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

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To: upanddown who wrote (53743)	10/29/1999 2:52:00 PM
From: Douglas V. Fant	Read Replies (1) of 95453

Men, Talking rigs, here is a blurb on trading in FLC from Thomsen Investors: FLC -- Oil & Gas-Drill -- Basic Materials 29-Oct-99 11:18:55 The oil-service stocks, who were excluded from yesterday's big rally, appear to have gotten a pass to join-in on today's rally. Word of a building rig count and increased capital spending from some oil/gas producers has re-ignited hopes of further gains among the oil drilling stocks. FLC is underperforming the sector with a $1/4 gain at $12 7/16 and I-Watch suggests the firm is going to have trouble catching up with its peers in the near-term. The sellers offering stock at $12 3/4 have worked to put a cap on FLC's gains in the near-term. The flurry of super bids that accompanied FLC's mid-morning rise have since dissipated which suggests there is no desire from the buyers to push past the resistance. Consistent with this theory, there have been 150K shares booked as sell trades and just 50K reported as buy trades. Look for more conviction from buyers to suggest FLC will be able to further thismorning's gains.

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