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Gold/Mining/Energy : Swift Energy (SFY)

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To: FloydP who wrote (798)	5/11/1999 5:46:00 PM
From: Mark	Read Replies (1) of 1602

Am I the only SFY long to be excited about today's move. No, I'm excited too...... Another 25c and I've broken even! :) Actually, I can't tell you how relieved I am to have averaged down at $6. (My average prior to that was $22.50). SFY is now 38% of my portfolio, and I'll be a bit happier when I've reduced my holding a little. However, I'm not planning on doing so until we are back into the $20's (which I'm hoping will be within the next 12mos). I can't think of a better home for the money anyway, so I'm not frantic to sell any. It's possible that some of the recent volume is caused by the shorts covering. I think I read on the Yahoo thread that the short interest a few weeks ago was still quite high. In view of the company virtually stating in the annual report what they thought the stock was worth (they effectively suggest that it should be in the $14 - $25 range), even the shorts should be getting the message by now. Salomon Smith Barney have apparently also raised their target to $17. (I think they've been reading PG's P&F prediction!) Mark

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