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To: Wowzer who wrote (51201)	9/15/1999 3:39:00 PM
From: SliderOnTheBlack	Read Replies (2) \| Respond to of 95453

Rory; re: FGI - "am I shorting"... NO, but - Rory I am not talking my position, I have none. I see no percentage in shorting ANYTHING here - as I honestly see some 20,30% + event driven moves in other stocks I am in. But, in all honestly - if that wasn't the case; #1. I would have shorted FGI as the "ARB" play. That everyone rushed into HLX - was a mistake that is easy to make. Everyone saw what looked like "free money" - trust me; the Street doesn't just leave that meat laying around like that... That is the "cheese on the mouse trap". That HLX "premium" will disappear as FGI gets killed here imho. What is there now - 500K at a 320:10 bid to ask ??? And the stock is at the low of the day. And, we have only seen shorting - moving it down; the longs haven't started bailing yet. I expect that when $11 breaks. You guys that are either long HLX, or holding FGI here; are betting that "new" BUY money will come to FGI's rescue here;I just don't think so.... not here - not yet. This is an individual investor owned stock - small institutional ownership, some fundies; but they sure as hell are not buying into the short run that this is going to be seen here.... ultimately; FGI will be one hell of a bounce play - short term "TRADE" - when, the shorts cover and go long HLX simultaneously. - but, HLX will actually be the better play. People ought to be demanding the insiders heads on a pole here people ! I think Big has done a hell of a good job reporting on FGI, it is a great company; but was the Offshore Rig Construction Boom" a one time blip ? Never to be repeated to that scale again ? Most experts think so. The Insiders by their action - must think so; at the least - they sure as hell don't think FGI stock is worth buying at $12 - not when they just sold an amount equal to 1/3rd of the float ! I think FGI knows that the Rig Construction Backlog is not going to return to levels that support $20-$30+ - that's why they bought HLX. FGI had better hope they allow FPSO's in the GOM - and had better be planning on being there... The insider selling in FGI is the height of duplicity when the road show starts.... I would be screaming from the top of my lungs & calling JL & the others on the carpet for it - no BS explanations any longer either ! That don't cut it no more... IF INSIDERS ARE MASSIVE SELLERS AT $10-12 into the face of an Oilpatch Boom, of a former $20, $30, $40 stock - you aint getting any of my money near those prices... ...maybe a "trade" at $9... allthough, I'll play it through HLX. I say - Insiders heads on a figurative "pole". Insiders have killed the stock themselves here !