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

To: SliderOnTheBlack who wrote (36786)	2/4/1999 6:48:00 PM
From: thomas hayden	Read Replies (2) \| Respond to of 95453

One thing I can't figure out about FGI though is the large size on the ask side. After the news came it popped a $1 or so, but there was still very large size on the offering, granted quite a bit was being taken. I'm trying to read the minds of the sellers, why would I want to sell this stock at this level? And there was some big offerings, even after the news. I'm also wonder when the revenue recognition will occur for this project. It says it will take almost two years. From past history FGI has a net income margin of about 10% to 15% of revenues. This project should add a dollar onto earnings. This should also silence alot of people about their backlog. FGI looks like that in the future they will have a capacity problem to keep up with all the business. It's not such a bad problem to have, but nonetheless it is a problem. It oil should rebound they may lose business just because they can't keep up. I think we've seen the lows. We could be in the 13 to 14 dollar range before earnings and who knows from there. Although as I'm looking at a chart, FGI has had big days over the last couple of months only to give it back the next day. We shall see. I wonder it today's news will prompt any upgrades.