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: Cragganmore who wrote (43015)	4/22/1999 4:55:00 PM
From: SliderOnTheBlack	Read Replies (3) of 95453

FGI - ''patterns'' ? seems to sell off prior to reporting earnings then pop Looks to be a buying opp on any more dips here potentially if the OSX remains stable like it is here.... and then a nice little trade if so inclined, for the usual ''pop'' after they report hitting the numbers - which they will. The downside - is that all this ''sustainability'' talk is leading to the reality that many of these fab/mfg companies still have good backlogs to carry through this year - but unless they get some major orders quiclkly - 2000 expectations could be worse than 1999 - the exact opposite of the drillers - who will be bringing home the bacon in 2000 imho... Personally; I'm in & out of FGI and not ''livin as large'' as I used to with it... I am just seeing the Street is focusing awfully negatively on their future backlog - its great today - but we need some orders in the next 2 quarters. I also do not think that the short covering is going to kick in until we hit $20+ fwiw ... BIG Dog - be the man on any rumblings of newbuilds, or major refurbrishment activity. You have to realize - we just saw one hell of a run in Rig building... it may take a period of ''sustainability'' (VBG) untill these companies start contracting for ''new'' Deepwater Rigs - look at the Petrobras & other cancellations. FLC may have scarred the bejabbers out of everyone for a while ??? BIG - good question for you & the ''other'' Simmons boy (VBG) - what is the next 18-24 months looking like for Deepwater Rig Construction and orders ? Is there going to be enough of a repair/refurbrishment/upgrade business to sustain the ''expected'' earnings stream for FGI & that sector ? Right now; I am a ''Born Again - profit takin E&P - Man'' - GO GAS ! ...still holding PGO large, and just small positions in other OSX stocks - HOFF is the only non-E&P I've bought of late - it's fundamentals when compared to its competitor GLBL (whom I love - but not here $) is at an extroidinary discount and it has superior growth in both top & bottomlines to GLBL - a true sleeper stock.... the Street will discover HOFF - it may take a while. Mgmt has been acquiring assets very intelligently. - Michael's TCMS is still cheap, OMNI is in a coma- but will wake up, it's bottom is certainly holding - it would be one to pounce on the millisecond that earnings come out...I agree with some here - PGO is ''the'' buy in the OSX and I would hold Big Bull style to $26 as my target ...by Xmas ? - now if it pops to $22 in a month - bye bye however...(VBG). and don't forget young Theodore's - WEL a nice little sleeper as well and isn't it now WEL.com Teddy ? (VBG). ? Another nice fundamental value stock with a great balance sheet, improving backlog ! and buying back stock is - WG. Also, BWG bought Kvaerner today - a great longterm play is BWG - I want a dip and I'm back in - a good 2-3 year hold type of company. PS - BIG BULL - good to have your thin skinned Butt back here (VBG) by the way - so what is your # 1 buy here & why big guy ? PS Big Dog - anyone, what is RIG's Norwegian trading symbol ? - thanks.

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