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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Gary Burton who wrote (52263)	10/1/1999 12:35:00 PM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 95453

<<FGI now bid 9.88 (the old low)...-waiting at 8.50/9!>> GaryB - you can't post that ! What are you trying to do here ? - get on the internets 10 most hated list (VBG) ? ... never have so many rode anything down so far, with so much blind loyalty. Sadly; the story is no longer whether FGI is a buy at $10 - thats now irrelevant imho. 80%+ of these guys rode FGI from $15 to $18 down to sub $10 here - losing 40-60% directly into the overall Oilpatch rising 60%. The real story is they now need a "double" to $20 - just to merely match the overall sector performance here.... FGI will be a nice trading "pop" when it shows the technicals that it has bottomed; but it will once again become a sitting duck short play... The merger quagmire - has unquestionably put FGI/HLX into a postion of having to "show" the Street results via 2-3 reporting quarters before any serious fund/institutional money is going to flow into it... FGI simply has to announce about $400+ Million of new orders - soon, very soon; just to support $10-$13 imho; as they are billing/bleeding off $58 M per qtr in present backlog... which will be zero in 12 months at that run rate. The "street" is on record that $400-$500 M in new orders within the next 2-3 months is necessary for any reversal... or, its simply deadmoney & rangebound.. . $7-$10, $9-$12, maybe $10-13... But, once again; they need a double just to be at pace with the sectors performance. Sadly; FGI is one of the most heavilly borrowed (short) and margined stocks... individual investors got killed on FGI margin calls on this literal freefall from $18 - $20 cut in half to sub $10 here.... It was not a pretty sight to watch; especially since the OSX is up so strongly and we saw doubles literally everywhere here.... I truly "feel" their pain ...(VBG). all except Geiche, that is.... xxx ooo