Strictly: Drilling and oil-field services Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: SargeK who wrote (63833)	4/5/2000 10:30:00 AM
From: SliderOnTheBlack	Read Replies (1) of 95453

SargeK - no institutional buying interest in FGH 1 day prior to "CC" ? ie: 40,000 stinking shares ? At least we know nothing has been leaked out... I'll give FGH credit for that if nothing else, but honestly; I would look for FGH to have moved thru $8 1/2 ish testing resistance prior to the call. That there was some large selling at sub $7 regardless of what the rest of the oilpatch was doing is NOT a good omen imho. Look at the integrated Oil's yesterday - held up perfectly; if something is "really" dramatically oversold & a true value, it wouldn't blow off nearly 20% intra-day imho ? I bought a partial position on yesterday's blood bath - for a bounce play if nothing else... I like the technicals better than the fundamentals for FGH. I use tight stops - caught some at $6 7/8ths - missed the $6ish shares; but I've traded in & out pretty well on ole' Freeky-Freide (VBG). Leveraged the $6 1/8 - $7+ move earlier. I think the range for FGH post the "CC" is it runs to test $9ish, or falls thru $5 with a $3 bottom, depending on what JL can show & tell analysts in the "CC" - definitley a time to be "ON" the call and to be watching the tape - livetime... Still don't think Freide has much of a chance to see $20, let alone stability in double digits without " Offshore Rig Newbuilds" - run the #'s on repair & refurb - and the boats ? - hell, FGH had to "mark up - to market - read profit" the HLX existing "boat" work in progress did it not ? FGH will live & die and only fly - on OFFSHORE RIG NEWBUILDS - we've seen where the Street valued shipbuilders of late - ie: HMAR HLX etc. Untill FGH proves it can bid profitably and then execute the build & delivery on time & on spec; I'm not so sure the new orders are even really the problem the Street is looking at ? ... no question that Boom 2000-2001 brings many new orders, the 3 questions are : 1. Newbuild Rigs - when & if 2. Margins & earnings 3. Merger synergies & how much trickenology in the accounting ? - lots of goodwill being packed on imho... how many assets being sold etc. We shall see... PS: I think you're 3 for 3 on coming out with the sparklers & pom -poms only to walk headlong into a blowoff ? Please, since I'm holding a few shares long now; hold off on the cheerleading untill "after" the fact - please (VBG) ~ Like PGO FLC on any weakness here ! My 3 fav's on this blow off were FLC PGO BSNX and I bought some RIG as well. PGO BSNX FLC all are "doubles" to peak cycle from yesterday's lows and are 50%+ upsider movers within 2-3 qtrs imho... $18ish FLC with a $70 price target - hmmmm !?!? $18ish & under FLC again is THE buy of the patch imo...

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next