Global Santa Fe (GSF) (formerly Global Marine) Message Board

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Gold/Mining/Energy : Global Santa Fe (GSF) (formerly Global Marine)

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To: Stitch who wrote (1155)	2/2/1999 11:00:00 PM
From: stockid	Read Replies (2) of 2282

Thread...this is a good post I found on GLM...I think it's worth a read....by: mhoward98 10684 of 10715 #1: GLM said themselves they are looking for an acquisition or merger partner this year. That will almost certainly cause the stock to rise as consolidation will result in cost-cutting, speculation about future prospects, and higher earnings eventually. #2: The price. We are now at the triple bottom for the stock. All bad news is factored in and there is no SIGNIFICANT downside risk compared to upside. #3: The company has announced that under no circumstances can they see actually posting a loss this year and that R & D continues at full speed on new rigs. They are staying in the hunt. #4: Downgrades. The smart-money boys want to pile out of the overpriced and soon-to-pop internet-tech sector and where will they go with their easy profits when they do? Stocks like GLM which they hope to depress with downgrades and buy cheap from losers who want to switch shoes and get into the tech sector (too late). IMHO this is happening. Who bought 5 million shares yesterday in a block? Duhh...... #5: NO ONE, and I mean no one, really knows what the price of a barrel of oil will be in three months. We do know, however, that the overall market is technically overvalued. GLM is not, and ANY movement in oil prices will send it back up above 10 in no time. That's why I bought 10,000 yesterday. Good luck all. mhoward

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