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: BigBull who wrote (55579)	11/29/1999 1:32:00 PM
From: SargeK	Read Replies (2) of 95453

All time FGH low of 8 9/16 hit today I suspect the Press Release was timed to forestall an even deeper plunge resulting from tax selling pressure. I also suspect that volume for today and tomorrow will exceed the daily average (since merger) of 217969 shares. So far, today 185500 shares have been traded. The size of the bids (4K)are now exceeding the size of asks (1K), so I believe the tide of 'sentiment' has already turned and 8 9/16 will likely remain the “All Time” Low. We might expect a gradual uptrend in the issue until XMAS and another dip (today's low may again be tested) between XMAS and Y2k (last minute tax selling). I anticipate strong recovery beginning Jan 3rd with significantly higher volumes contingent upon forthcoming positive news outweighing the negative during December. REVISED FORECAST: I expect FGH to be trading between 13 and 17 by the end of February and to at least double the latter figure by the end of next year. FWIW SargeK

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