FGH, Snapshot and Comments
Following a 40%+ increase in share price since Feb 22nd , expected, profit taking began during the afternoon of Mar 7th and continued through yesterday. I expect the UP trend to resume today and continue indefinitely with occasional pauses for digestion & profit taking. As a clearer picture of this year's revenues and profits begin to emerge, volume will increase along with volatility. There will be plenty of opportunities for trading and accumulation over the next few weeks. Long term, FGH will most certainly be a primary beneficiary of fabrications, modifications, re-builds and new built semi's and vessels. The need is growing and so will the availability of capital, "$76 billion in deepwater spending forecast for 2000-04.....Analysts Douglas-Westwood Ltd. and offshore industry data specialists Infield Systems have projected total spending of $76 billion on deepwater oil and gas projects worldwide in five years."
FGH has the facilities and having completed the appraisal of Halter plant and equipment, they will begin large scale liquidation of non-core/non-strategic assets, providing for reduction of debt and funds for expected increases in operations. Announcement of the "Letter of Intent to Sell" the yacht division (acquired from Halter) is just the first of what I EXPECT over the course of the year.
Heartening news for FGH Longs...
by: fgh_long (40/M/New Mexico) 3/8/00 10:44 pm Msg: 5386 of 5394
IBD shows that the Accumulation/Distribution rating for FGH has changed from B (moderate accumulation) to A (heavy accumulation). According to IBD (and legendary investor O?Neill), this is the key indicator that shows whether to expect a surge or drop in a stock's price. "A" should mean a surge, though it may take several weeks of "B"s and "A"s to finally chew through the overhead resistance i.e. to buy out all those who were willing to sell/short at $5, $6, $7, $8 etc. messages.yahoo.com
COMMENT: This indicator provides further support to the previously posted significant increase in the NUMBER of institutional BUYERS and the significant INCREASE in institutional investments in FGH. insidertrader.com The indicator provides further support that the current TREND which began on Feb 22nd will continue.
Chart: (Enter 2/22/00) bigcharts.com. 2%2F22%2F00&x=17&y=20
BigBull: "Not looking for FGH to go ballistic by any means just a good solid run to 10 from 7."
Message 13083803
COMMENT: If BB is correct, the short term expectation of a RUN to 10 from yesterday's close at 6 5/8 represents a 51% gain.
Slider on YAHOO: "by: SliderOnTheBlack 3/8/00 4:06 pm
Msg: 5361 of 5394 YOU ARE AN IDIOT - read the Merill report - that specifically addrssed the ACCOUNTING QUESTIONS !
Shorts drive FGH into the dirt tomorrow - you'll see a new low tomorrow !
Crude down $3 and shorts all over.
MAde some nice $ shorting the OSX mo's today.
FGH goes down hard tomorrow imho - I?d be out at the open boys (VBG) ~
when you going to learn ??? messages.yahoo.com
Slider on this message board, today: "I am a former "long". "I have NOW also lost confidence in FGH being able to operate its own God Damned business." Message 13130311
COMMENT: Sour grapes?? Up to his usual BOILER ROOM tactics; spreading the doom & gloom with hysteria and convoluted OLD news UNDER the guise of several aliases. The up tick in YAHOO FGH message board traffic by the BASHERS with NEW profiles is ALWAYS a positive indicator! Like Slider, I am posting this "because I can ~"
Support/Resistance:
50 DMA 6.37 (1st Support)
10 DMA 6.14 (2nd Support)
100 DMA 7.55 (1st Resistance)
200 DMA 10.27 (Final Resistance)
ciao'
SargeK
O/T Slider: "@*$^%@$#@$! ankle biters..."
"@*$^%@$#@$!" = SOUR GRAPES! >g< |
