Roger's 1998 Short Picks Message Board

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: Dr. Seuss who wrote (12888)	8/17/1998 12:50:00 PM
From: Peter V	Read Replies (1) of 18691

FGII is a pretty good oil service stock, but that entire sector has dropped like a rock since earlier this year, taking every single stock with it. Down significantly again today. Cold calls may be a good indicator, but FGII is a star in a sector that has been hammered by low oil prices. I thought I had found the bottom when RIG hit 33 7/8, but it got below 29 today, and is just above that now. No telling how low the oil sector can go here, or whether it is bottoming out. The folks on the Strictly Drilling thread have been calling for a bottom for months now. Don't get me wrong, cold calls have been cited several times as good short candidates, and maybe the broker saw the continuing decline in oil prices, figured that FGII was headed down, and needed to get rid of some of the stock.

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