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: Think4Yourself who wrote (45361)	5/25/1999 2:07:00 AM
From: Rainier	Read Replies (1) of 95453

Karen: FGI's short position concerned me while I was doing my initial DD. Slider's theory that it was a hedge seemed to make sense, and after doing more research, I became convinced this was the case. Here's a link to the post where I outlined my findings: Message 7666905 Tonight I looked up the last four months of short data to see if anything had changed, and discovered the short position has dropped considerably: Feb 99----2,862,000 Mar 99---3,021,000 Apr 99----2,745,000 May 99---2,117,000 marketguide.com This is a 20% reduction since my post, and a 30% drop from its March high. I still consider the short covering a bonus to be realized as the industry recovers. Best regards, Mike

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