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To: ChanceIs who wrote (45623)	5/28/1999 12:08:00 PM
From: The Ox	Read Replies (1) \| Respond to of 95453

Doomberg loves to pick on companies in trouble. No surprise here.

To: ChanceIs who wrote (45623)	5/28/1999 1:11:00 PM
From: SliderOnTheBlack	Read Replies (2) \| Respond to of 95453

ie: Bloomberg on HLX... Well that explains the lack of big block, or heavy call buying... Hmmm; $8 as a ''ceiling''... and a ''distress'' sale.... Glad I took 1/2 of my HLX off the table yesterday... reinforces the notion of never failing to lock in at least ''some'' of those 1 day spike gains. I still will be a buyer of HLX sub $6 3/4's here ... FGI needs to buy HLX as bad, if not worse than HLX needs to sell/merge imho. Looks like the .5 to .66 negotiations are the dealmaker/breaker... hard to figure that coming back to the table the 2nd time will not end in a deal. .58 is a compromise; I'll go with that. FGI at 17 3/16ths x .58 = $9 .97 per share for HLX.... that's my ''guess'' - I'm happy I took 1/2 of my position off the table at the spike, but I have no problem letting the other 1/2 ride out the storm - deal, or no deal and would still be a buyer here sub $6 3/4's.... At sub $10 FGI gets a great buy on HLX and FGI on any dip here becomes a buy if the deal is consumated imho. Big Dog; what are your, or street comments on the synergies of FGI/HLX ? - seems prudent to think that FGI brings solid cost control management and engineering capability to the table,that HLX badly needs. Consolidating some yards will be a huge cost saver - I like the deal and my only concern is the shipbuilding end and any potential to restructuring the debt. FGI could be making a hell of a deal here... ...maybe the ''play'' is to go long FGI if they ''steal'' HLX cheap ? GIFI is tooooooooo cheap at $10 here... lots of shorts from $15 to cover; this has been a great trader and I've been buying on weakness here - I see $15 as a mid-term no brainer, and they could blow through $15 on early June OPEC compliance numbers alone - if positive... really like GIFI here in the $10 range as a great trade just waiting to ring the register on this one. Only following RIG/DO on another $2 down from here and GIFI - will load the boat on these 3 for the next run... Anyone else buying GIFI here ? - looks about as good a buy as I see...50% off of it's recent high - GIFI is no stranger to $15 and they got the Petronius contract in hand.... go figure ? I'll chase this one in size at $ 9 3/8ths then $8 3/8ths if it sees those ranges (unlikely).... I see a 50% ''pop'' in 2 weeks for the ole' Giff'er... While this ''deadzone'' of OSX 68 - 80 seems boring - it has had a load of big trading opps. HMAR, PGEI, MEXP, HLX, and now I see GIFI as another 40-50% near ''freebie''.... Capt. Kirk; MEXP is in the buying range, but just buy a 1/2 position here and see how low it goes... You'll notice a blip at $1 7/8ths if it goes there - that's now where I make my stand...{VBG} be patient - this one is a buy & hold, the quick pop was here and gone and that's good news for the long run... same with PGEI - buy & hold....