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: gizelle otero who wrote (1192)	2/13/1999 9:22:00 AM
From: Satch77	Read Replies (2) of 2282

I suggest investors be patient and not get "shaken out" of this stock (like our friend who bailed at $8.00 because "stocks that go down always make lower lows" (I had to laugh at that one!). gizelle, Maybe your laughing because you changed what I wrote. I said "usually makes lower lows", not "always". Your advice was to read about what some guy in Texas has to say about oil prices, getting excited about that, then watching your investment decrease in value. Now that is really something of value for an investor to do. NOT! He is hip-deep in oil service stocks and ready to "hunker down" for the long haul. His numbers on consumption and demand are compelling arguments that cheap oil is going to be a very distant memory in the future. You should look up some of those articles in the library....he will get you "pumped" about oil! My point was that IMHO $8 was not the lowest this stock could go. I posted on this board the day I bought in. I watched the stock action and to me it indicated were heading lower. I bought and traded this stock in the 20's just a few months ago. I thought 22 was a steal back then. I just think that this stock could trade as low as 5 or six in the next few months, and I am going to wait until I see a base before I buy in again. The reasons I think it could go that low are 1) I am not convinced a buyout or merger would increase the stock price. 2) OSX has been trending down, and there is no sign that has reversed itself. 3) Oil prices are low, and there is no sign that they have reversed. 4) The oil producers have shown no ability to limit their production. 5) Asia has not rebounded yet. 6) While people are getting hurt in this market, there is not enough blood in the street. There is still a lot of optimism the market will turn around soon. At some time most of these points are going to change, and oil stocks (the ones that survive) will return and be the darlings of wall street. Good Luck to all. Satch

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