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Gold/Mining/Energy : Swift Energy (SFY) -- Ignore unavailable to you. Want to Upgrade?

To: FloydP who wrote (885)	9/9/1999 7:06:00 PM
From: Mark	Respond to of 1602

Floyd, Those shorts sure are persistent. They've ridden the stock up from $6....... For a while they worried me. However, with - 1) NG prices likely to hit record levels in the next few months, 2) SFY now having a strong cash position, 3) the company soon to get a P/E back again (when the next quarter's figures drop out the "paper" loss of 12mos ago), 4) the probability of positive news from the company over the next few weeks, 5) a number of upwards earnings revisions over the last few weeks (we are now up to $0.28 for this quarter and $0.92 for the year - which are close to the numbers PRE DILUTION), 6) sentiment improving by the day towards the sector, I don't see how their situation is going to do anything but deteriorate. I have imagined that the shorts have forgotten about their positions(!), because the logical move would have been to have covered at about $8? However, they didn't, which suggests that either they are stupid(?), they believe they know something we don't (seems delusional) or this is "personal" (in which case there must be a lot cheaper way to stage a vendetta!) I generally don't like seeing anyone hurt, but I wouldn't feel too bad in this particular case - I think they only have themselves to blame. It'll be interesting to see what effect buying 1m shares has on the stock price..... Mark