UFAB - oil drilling deck fabrication Message Board

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Gold/Mining/Energy : UFAB - oil drilling deck fabrication

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To: Platter who wrote (176)	12/2/1997 1:38:00 PM
From: andrew r harwood	Read Replies (1) of 337

I agree ,i always try and do the opposite of what the broker syas.its so strange when i put in a fe notes on si about unifab which it was in the mid 30s indicating that it was overpriced and had gone up too far too soon everyone jumped to its defence,people were buying unifab on margin and predicting it was going to 50$.talk about a sell signal if there ever was one .now at half the price and its a good buy everyone is negative .basically the company and its business is just the same as it was a couple of months ago and its principal business it the manufacture of gas producing platforms for the oil and gas industry.there are long lead times on these projects and as i understand it unifab has an order book full of orders for projects already commited to irrespective of the short term fluctuation in the price of gas.i originally descided to buy unifab based on its excellent management ,lack of debt and business before the ipo ,i wanted to buy it in the ipo at 18$ but like all the other small guys couldnt get any .it soared to 40+ dollars so a lot of the big guys who got shares in the ipo made a killing im sure .im amazed that it s back down at close to the ipo price when everyone was screaming for stock.since nothing has changed in terms of its long term attractiveness at a price around 18$ i have bought for the long term .no idea what will happen next week or next month but am absolutely certain it will be a double based upon its earnings and business growth over the next 2-3years, another strong bullish indicator is that when unifab soared to 40 $the local newspaper the lafayette daily advertiser interviewed daily berard and had a piece about unifab on the front page of its business news.an obvious sell signal.today the same papers business news if filled with stories about how far the oil service sector and unifab in particular has dropped and is quite pessimistic a great buy indicator in my opinion.my only regret is that i got in a little early on my first buy at the 22$ level but yesterday i expect i got in close to the bottom.if i had more money i would buy more as well as mid south bankcorp which is a Great local lafayette bank. as for morgan keegan and any possible long term buy recommendation this would apply to the local office i think which handled the offering and i dont know any details .the broker that i talked to at morhgan keegan in lafayette yesterday was quite negative about the stock and advised me not to buy againa in my opinion a strong bullish indicator.i dont pretend to understand technical analysis but i think its oversold and the price of the stock is going to turn on a dime with a short squeeze developing in my humble opinion.as stated previously i dont believe there has been any insider selling .just my opinion of course .arh

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