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: still learning who wrote (42759)	4/20/1999 2:51:00 PM
From: SliderOnTheBlack	Read Replies (2) of 95453

<< UFAB -- good news no movement. $20M is no small thing...>> ...great comment and question; the bottomline in the longterm SargeK is right - this IS money in the bank - unquestionably so from here. But - can I buy it 5%, or even 10% cheaper in a few days/tomorrow ? - that becomes potentially a 10% to 20% greater profit if I buy on margin - so the $64 question is; why isn't UFAB going up on great news ? Is the Street done buying - are they also going to wait to buy cheaper ? Are they going to accelerate profit taking here if we continue to retrace and artificially magnify the retracement by ''stopping out'' here shortly and selling to lock in a nice run - refusing to let hard fought profits slip away ? hmmm; I'm sitting here looking at UFAB PGO FLC on dips - but, I actually think I am going to wait.... UFAB is pretty safe to the downside - can't imagine more than a $buck lower - but $1 is a 14% loss (conversely a 21% gain on margin) ??? as such - I'm going to wait to see what tomorrow brings...UFAB would be one to jump one immediately if we rebound... I want another 5-10% lower from here and will watch the technicals here - any disproportionate blips are good opps ...Can't imagine that the hedge funds won't short CAM WFT SII & maybe HAL heavy here if we open in the red tomorrow ... Will I get another chance to buy FGI at $12-13 ? doesn't seem so impossible as it did 48 hours ago ? Again, we will loose the supporting effect of $17 Crude Oil shortly - we need more than that to stay afloat here. Either Crude plows through $18 solidly, or we drift into the DeadZone imho...then it is all a question of where support will be found - I'm relying on GaryB/Marc C et al to give us the technical take on that... and I'm not a big buyer unless we see a solid retracement, talk of $20 Crude Oil, or some more damn good news like PGO & UFAB had today - we need it now - crude alone will NOT keep us over 70 imho !

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