INEX is an extremely interesting story. The company has
been under the radar for the last few months because it has been in the development phase for its unique investment portal. But if you like Knight Trimark (NITE), as I do, you're going to love this stock, and you'll do very well with it, now that they are in the implementation phase. INEX is launching The Financial Commerce Network TFCN.com), positioning itself to be "the community of choice for accredited online investors", people with million dollar net worth. This portal, developed by USWeb, will have a number of unique features -- the buzz on Wall Street is that it will change the way we trade and will be extremely successful.
Here's a quote from a recent press release: "Members will be able to easily execute trades through their preferred brokerages while consolidating all transactions into a single prime brokerage account that can be accessed
electronically from any location worldwide." Exciting stuff..There are quite a few ringers on the management team. The Chairman is a former President of Investors Financial Services who managed floor operations on
the NY Futures Exchange. The COO is a former Director at Prudential and the CIO is also from Pru, by way of Shearson. INEX acquired Alex Westcott (as well as another brokerage firm), inheriting from Westcott the head trader
and the head of Investment Banking, who had also been a mucka-muck at Harvard Management. The EVP was the head of training at Goldman Sachs and the head of the Third Market Trading division helped build Knight/Trimark's block trading into a powerhouse, prior to joining ALWC. I'd bet on those horses any day. especially in a $4 bulletin board stock. INEX has 20M shares outstanding.
INEX just broke out of a small base in the 3 area (after a sharp decline from 8 a couple of months back) and has been drifting higher every day. On Friday, Aug.27 it opened with a 3/8 of a point gap, which is very bullish, and it now looks ready to run. Pretty soon, funds will come into the stock, given the pedigree of its principals, and we may be in for a terrific ride. It could be a real flyer, once volume comes into the stock.
Pete |
