Strictly: Drilling and oil-field services Message Board

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

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To: dmccoach who wrote (41778)	4/7/1999 4:26:00 PM
From: SliderOnTheBlack	Read Replies (1) of 95453

Great - now the ole' Gloom -o-meter is back ! - a buy signal !!!! Now that is just what I was waiting for ! - A reversal to a Gloomish series of posts and some FLC CEO resignation news ! - for this thread; that's a buy signal ! - seriously; it has been a damn good indicator imho ! Indio - I don't ''do'' options as a habit. LEAPS would be the ticket here if we go to OSX low 50ish - then I'd probably go to some DO leaps - PS; on that note; anyone have that old list of Oilpatch LEAPS ? allthough RIG at $20 and FGI @ $10 would make the calls tempting imho... dmcoach; good post on the Street.Com article - an important point is look down the list - virtually everyone is going to be down dramatically from last year. Who is the glaring exception ? - RIG ! SDC also, not down much and PGO not listed is another reason why these 3 and FGI to a lessor extent are my choices. Rumor has it that not only is RIG going to hit the number, but a slight upside surprise is possible - rumor, repeat - rumor. On the basis of earnings RIG PGO FGI should bounce well from any selloffs here.... I'm also hearing that FLC's Webster resignitation is a battle over the urge to merge ....again mere rumormongering - nothing to act on - period. - who other than DO could be the buyer ? - don't see RIG interested, nor GLM doing the suicidal debt thing, NE ?...but, someone with some big brass ones may do it anyway.... watch something really bizarre happen; lke FLC buying MRL - just joking.... Personally, I have such a small-moderate position in FLC presently; that I will play this for a blowoff bounce play if we get one - if I was holding a large position - I'd be blowing out 75% asap.... I know that sounds like a conflict of opinion; but it isn't. I am holding less than 15% of what I've held in the past with FLC - a meaningless amount - I can still double down and be less than 50% in.... I actually smell opportunity in FLC. The financing is done folks - FLC can still have a Rig cancel (it willl selloff assuredly) and still survive - FLC can't go under within 2 years unless NOESIS is Nostradamus (VBG). I'll nibble at sub$6 - at sub$5 and load at sub$4ish if we have a CLB type meltdown. - this is a risk play, but I like the math and the debt payback timetables; given crude prices. On the Street,Com note - see the poll on what investors will do if the OSX stocks miss the #'s - good news. Is DO tomorrow ?

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