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

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To: Big Dog who wrote (64387)	4/12/2000 11:38:00 AM
From: SliderOnTheBlack	Read Replies (1) of 95453

BUY all the FGH you can & don't sell a share sub $10 - my target $12+ in 2 qtrs I needed to confirm yesterday that a big block - buy order could not get filled yesterday between the bid & ask - it could not; I tried buying 5K blocks between the bid & ask - couldn't get filled; from a technical standpoint - there AINT NO MO major Institutional Sellers in FGH in my personal opinion; as they wouldn't come down 1/16 to get filled in size. Nothing has changed in my view of mgmt and their communication to shareholders. I don't think FGH has done a very good job. But - my opinion does not matter if the overwhelming opinion of those who have the Big $ and control the stock disagree. Imho; Institutionals are no longer selling FGH here - probably view it as having bottomed and another spin on the lack of questions from analysts on the Conference Call - is that they allready had their answers on liquidity - asset sales etc. I think FGH for its individual shareholders should present a comprehensive gameplan - outlining what it views to be its core business area's and assets and coorespondingly it's non-core assets and business area's. They need to speak directly on the HLX merger - discussing why they are selling the assets they are & how their present view & asset divestiture plan has changed since the post merger annoncement and why etc... I think with the planned asset sales, tax refund etc - that perhaps the liquidity issue's have been answered. Technically we had a selloff post the "CC" - but, did not see 20-50-100K blocks being sold - and now with the inability to get filled between the bid & ask in "size" - it appears the sellers are out... I like FGH here better technically than fundamentally; but part of being a trader is putting aside any emotional baggage, past history etc - and playing it "strictly for the money" - I see this returning to the $10-$12 range given support to other fab's and the now open discussion of the amount of contracts that have allready been bid and will be awarded in Q2 & 3. Add to that the trend shown by Shell's announcement today of increased Cap Ex Spending plans - which is very bullish given this is into declining crude oil prices - and a floor has been firmly put under FGH technically & fundamentally. I've been a buyer again the last two days; just filled my last order of 5K & I don't plan on having to sell sub $10 - even on a technical basis fwiw... We shall see - I can ride a 40% move here on a stock whose mgmt I don't particularly give high marks to for their handling of the HLX merger & shareholder communications... as the tape tells all.... Slugoo - see ya @ $10+ ...gotta know when to hold 'em, when to fold 'em - when to walk away, when to run & when to load the boat; quite obviously of late; it has been time to walk away more often than not; but folks - like ole' JL & Co. or not; it appears time to load thy boat - I did ~ it just may "finally" be time to buy & hold ole' Freeky-Freide for the long haul... We shall see & I haven't been on the wrong side on a single solitary FGH trade in over 18 mos. The Dog's out of the house; let's see how far it can run... I'd enter on this intra-day pullback & oh by the way Sluggo; you've now got my blessing for all the spamoramma you can muster (VBG). JL's 100K buy was something he should have done long ago - that's something that can not be ignored by even his detractors (ow which I am), or the shorts...

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