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 (58507)	1/14/2000 11:57:00 AM
From: SliderOnTheBlack	Read Replies (1) of 95453

JimL re: FGH I don't the shorts are taking a 3 day weekend Tape showing good defense of $5 - some nice 5-7K buy blocks steadily crossing... we shall see - the last hour may get real interesting. One other factor is many who held FGH on margin - received calls here because of the sharp drop from $7 to $5; if they sell & meet the call today, or wait the 3 days to see if FGH bounces, or even if they sell positions other than FGH to meet the call may play a moderate role here today & early next week. Imo, shorts either break thru the wall at $5 TODAY, or this moves back to $7-$8ish and bases. I think they have one hell of a road to hoe ahead of them. It will be a cat fight to $10-$12 again & it may be a long time before this see's the mid-high teens (12-15 mos ?)and only another Industry wide Construction boom can take this back to the $20's-$30's range - that is not in sight at this point and looks to be a 2001 order story that gets built out in 2002.

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