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: JungleInvestor who wrote (57618)	12/31/1999 11:40:00 AM
From: SargeK	Read Replies (2) of 95453

Supply/Demand Bias Shifting for FGH With only a couple hours of tax-selling remaining, it appears that Bargain Hunters and buying support from Longs (who are now reestablishing positions)relinquished last month for the '99 deduction are meeting the challenge of last minute tax sellers. It also appears that 6 5/16 ( the all time low set on Dec 23rd) marks the turning point for the expected turn around and the trend from that level should continue UP. While the demand side might be expected to accelerate; the supply is expected to weaken - possibly sharply. The BIAS should almost definitely be on the BUY side beginning Monday (since tax selling pressure will be behind us). FGH/IR says backlog is sizable, inquiries are pouring in, and other issues which have clouded the company for months are generally expected to be resolved over the next few weeks including announcements of NEW ORDERs. FGH/IR is expecting to release favorable news the first part of next month (I expect - next week). Happy New Year, Good luck and fortune to all SargeK

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