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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: jim_p who wrote (597)	2/28/2001 3:39:55 PM
From: ItsAllCyclical	Respond to of 23153

FGH - Snagged some at 2.57, but don't feel comfortable buying more till I see where it settles during the next few days. If bankrupcy is a non-issue then it's probably a great buy here for a DCB. However, I haven't followed FGH closely enough to know if that's the case. I suspect that given their backlog and the fact the late cycle plays are finally starting to pick up a bit (in terms of sales) that FGH will survive even if they do take a big hit on these rigs. However, it appears this cloud could hang over FGH's stock price for some time to come. Probably not a bad 12 month play sub $3. At under .2x sales it sure seems cheap.