I guess the one thing to take from those projections is FE is certainly in a minority position out of the 7 and they haven't impressed me with their analysis on Arcan to date and even their ethics suck . The thing is FE can hardly start looking stupid by jumping their value close to the others as they pretty well made their bed on Arcan. They have no choice but to bring their target up gradually so one needs to discount their position.

 

Nobody seems to interested in going into the summer with too much stake in any of the names followed here and the malaise will only change if we get a takeout to spur some buying. SCS is probably our best hope but BXE probably offers the most undervalued position to the right buyer.

 

 

Maybe the Russians will light a fire under our stocks. They may not do any more deals but could spur other internationals to jump in.