Malcolm, Will do all we can to get FNTN some cash! Meanwhile I should print entire coverage of FNTN by Techno Wiz in his newsletter today! Techno has called the market many times very correctly, inspite of its ridiculous volatility. He is highly commended and you will find free Subscription Information below in his complete issue- available FREE by request:
FINANCIAL INTELLIGENCE for December 29, 1999 - Delivered daily via Email to all continents
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ECONOMIC & MARKET COMMENTARY for Investors, Banks and Institutions around the World
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The Day Ahead: 4000 rejected?
It looks as if we might get the mid-week pullback we were looking for. For a brief while our 4000 beckons call was answered, but the Nasdaq just
couldn't cut it with so many overvalued issues, such tempting targets to book a profit, led by Commerce One CMRC, which hit almost $1000 a
share pre-split price, before succumbing to a severe bout of profit taking which infected other key leaders as Commerce One sold off, putting in
what appeared to be a reversal, although we were heartened to see this issue rebound in the night session, implying that we might get more of a
bounce early Wednesday. Hard to tell how long this pullback will last. Could be anywhere from a few hours to mid to late Thursday, with perhaps
the potential for a rebound into Friday's close and possibly the 60th record of the year too. Wishful thinking, but a pullback here is a good sign
because it could open the way for sharp upward continuation of the rally in January.
As expected Crude Oil and Heating Oil made new highs and Bonds were weak but hardly moved. Some Airlines got downgraded ahead of Y2K
fears, but the Transports withstood their ground and that was a very encouraging sign. The Dow itself put in a great performance, up 85 on the day
to close at 11476.71 and the Dow Futures were very strong for a change maintaining a rich 200 point premium that has never been seen before as
so consistently able to hold gains.
The S&P Futures have also done very well maintaining an above average premium of almost 20 points over cash. As long as this holds up
the market should remain in good shape. Even the breadth improved significantly Tuesday. The S&P 100, OEX also closed at a new all time
record high and the broader indices especially the Value Line closed strong and the Russel 2000 is a 2 point whisker from making new all time
highs for the first time since April 1988. Russel Futures actually made new contract highs and arguably new record highs already. The Value Line
looks dynamically bullish and based on the performance of many undervalued lower tier stocks, this index looks capable of making new all
time record highs in the very near future on January effect.
In amongst all of this Gold is creeping higher and has been stirring interest in a number of Gold issues. Just a few dollars more and Gold will have a
hard job restraining itself from moving a lot higher and probably closing out the year over $300. That would put in place a yearly reversal and would
be highly significant as the first reversal in years and a deeply seated one at that.
Another deeply seated reversal took place today in the form of Financial Intranet. In fact based on that, it could be argued that the most overvalued
and undervalued issues in the entire market reversed within minutes of each other today. Two very significant events from our standpoint: At 2.20
pm Eastern time Tuesday afternoon, our work generated a sell and sell short signal on Commerce One near $326, which was the equivalent of
$978 pre-split. It then proceeded to fall 80 (240 old) points from its post split high of $331, ($993 unable to quite make the $1000 mark).
Within one and a half hours of that top being made, our work generated a strong buy signal on Financial Intranet and within 15 minutes or so
thereafter the stock shot up sharply higher on very big volume of 1.4 Million, the heaviest of the year. We have been watching the growing volume
profile on this issue with interest of late and were waiting for the tax selling to exhaust itself. Late Tuesday, it appeared to us that in spite of massive
tax loss selling, the market refused to break, which we interpreted to be a very positive sign. Anytime the volume comes into a stock like this, it is
usually accumulation going on, so that bodes particularly well for the stock given the buying and looking at the overall structure, the higher the price,
the stronger the stock will get and look.
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Featured Update - Financial Intranet - FNTN
It's been a very tough year for Financial Intranet and a frustrating one for shareholders. Although there were disappointments, the fact that they
were able to attain full reporting status says a lot for their efforts, especially in view of the large number of issues, including some better known
names being assigned an e symbol or sent to the pink sheets. It would appear from the two most recent press releases, that they have overcome
some of the problems that beset them earlier in the year and they may have straightened out their ducks and hopefully have them lined up for the
new Millennium. Given the steady and consistent increase in volume it does bode well for FNTN.
Our work has turned sharply positive on evolving dynamic structure. Upside could exceed highs.
Financial Intranet Selects Global Center for Site Hosting
FNTN Signs Collocation Agreement with Frontier GlobalCenter for Increased Speed and Reliability of
Streaming Media Content Distribution
MOUNT KISCO, N.Y.--(BUSINESS WIRE)--Dec. 2, 1999-- Financial Intranet, Inc. (OTCBB: FNTN) today announced that it will be utilizing
Frontier GlobalCenter's world-class hosting and digital distribution infrastructure and services to host a new streaming media web site scheduled to
launch in First Quarter 2000. The Company's corporate site, www.fntn.com will also reside at Frontier GlobalCenter's Media Distribution Center in
Manhattan.
By selecting Frontier GlobalCenter, FNTN has the advantage of being part of a scalable, highly available, complex hosting infrastructure that runs
on its own OC-48 network. No competitor can match that kind of Internet connectivity.
"We needed a hosting infrastructure that will handle distribution of streaming media without slow down or incident. We selected Frontier
GlobalCenter because of its professional services as well as proven ability to help services such as ours scale to handle demand", said, Maura
Marx, FNTN's Executive Vice President. "Additionally, as a wholesale distributor of Global Crossing's communications services, we'll be streaming
media through the same superior underlying network that we now provide to our customers."
The Frontier GlobalCenter complex hosting infrastructure is comprised of three centers of excellence:
-- The Frontier Optronics NetworkSM - a 20,000 route mile, fiber
optic, redundant ring architecture designed to deliver unrivaled
speed, scalability and reliability. The Frontier Optronics
Network currently connects over 120 major U.S. metropolitan areas
and includes a Cisco powered IP network operating at OC-48 (2.5 Gbps).
-- Frontier GlobalCenter's Media Distribution Centers -
geographically distributed, 24x7x365, on-net data centers
designed to high-security, disaster-resistant specifications to
ensure guaranteed uptime.
-- Frontier Application Networking Services - highly available,
reliable and flexible utility applications and services that
enable anytime, anywhere computing.
Frontier GlobalCenter's MDCs host more than 300 top Internet brands - some of the best known names in the business, including Yahoo!, ZDNet,
Red Hat and eToys. Frontier GlobalCenter facilitates 60 percent of all Internet searches and delivers more than 8.8 billion page views per month,
nearly 2 million hits per minute.
About Financial Intranet
Based in Mount Kisco, New York, Financial Intranet, Inc. has established a proprietary, secured, on-demand data and video information network
that links the brokerage and mutual fund industries together and connects both to the individual investor at the Company's web site www.fntn.com.
The Company also derives revenue from similar communications networks linking individual businesses with their remote affiliates, in addition to the
resale of communications services to the financial and business communities. For more information visit Financial Intranet at www.fntn.com
About Frontier GlobalCenter
Frontier GlobalCenter, a unit of Frontier Corporation, is a leading international Internet Protocol (IP) applications and communications services
provider. Frontier recently agreed to merge with Global Crossing Ltd. (NASDAQ: GBLX). The combined company will own and operate the first
seamless global IP network with 88,100 ultra-high bandwidth fiber miles connecting 170 major cities in 24 countries. For more information, visit the
Frontier Web site at www.frontiercorp.com or Frontier GlobalCenter at www.globalcenter.net.
Safe Harbor Statement
Certain statements made in this release may contain language describing the plans, goals, strategies, intentions, forecasts and expectations of
Financial Intranet that may be referred to as "forward-looking statements." Prospective investors are cautioned that any such forward-looking
statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those
projected in the forward-looking statements as a result of various factors.
Financial Intranet Signs Agreement with Info Directions
MOUNT KISCO, N.Y.--(BUSINESS WIRE)--Nov. 30, 1999--Financial Intranet, Inc. (OTCBB: FNTN) announced that it has chosen
CostGuard for its in-house billing and customer care solution. Developed and licensed by Info Directions, Inc., the software will enable the
Company to bundle long distance, Internet access, video conferencing and video streaming services onto one client bill. FNTN had previously
relied on a service bureau to bill corporate clients.
"We wanted to be able to present our end-users with one simplified bill for all of our services. We also felt compelled to take control of the billing
process instead of relying on a third party," explained Maura Marx, Executive Vice President of Financial Intranet. "This agreement is the result of
an extended period of due diligence into billing and customer care systems. Key factors in our decision to go with the CostGuard solution were its
outstanding reputation among licensees, coupled with scalability and control. We can now use our own personnel to monitor billing operations, and
detect and correct problems when they occur."
About Financial Intranet
Financial Intranet, Inc. has established a proprietary, secured, on-demand data and video information network that links the brokerage and mutual
fund industries together and connects both to the individual investor at the Company's web site www.fntn.com. The Company also derives revenue
from similar communications networks linking individual businesses with their remote affiliates, in addition to the resale of communications services
to the financial and business communities.
About InfoDirections
Info Directions, Inc (IDI) is a software development company that manufactures, installs and supports core rating, billing and customer care
solutions to the emerging telecommunications and data marketplace. Built on a high-performance usage based rating engine, CostGuard products
deliver convergent billing solutions to multi-service providers of long distance, local, wholesale, data, gas and electricity. Integrated with advanced
web-enabled functionality, CostGuard is the premier choice for service providers seeking an immediate return on investment from billing operations.
A Microsoft Certified Solution provider and a member of the MSDN ISV Program, IDI licenses CostGuard in the United States from its
headquarters near Rochester, NY and regional offices throughout North America. To learn more about Info Directions, Inc. please call
1.800.924.4110 or visit www.infodirections.com.
Safe Harbor Statement
Certain statements made in this release may contain language describing the plans, goals, strategies, intentions, forecasts and expectations of
Financial Intranet that may be referred to as "forward-looking statements." Prospective investors are cautioned that any such forward-looking
statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those
projected in the forward-looking statements as a result of various factors.
_________________________________________________________________________ Featured Update ll - NetGateway - NGWY
Since acheiving Nasdaq listing two months ago, NetGateway has risen to a higher price range on much improve average volume levels and a very
strong opening day for its Nasdaq debut. So far so good. The stock acts well and a potentially dynamically bullish structure. With Ecommerce
stocks like Ariba (ARBA) and Commerce One going through the roof, I'm somewhat puzzled as to why Netgateway as a very promising business
to business, (B2B) contender and Ecommerce player with a lot going for it has been left behind by as sector where almost everything else is going
the through the roof. If Commerce One is worth $1000, NetGateway has to be deserving of a valuation of somewhere between $20 and $100
given some of the high profile agreements it has in place. Perhaps Year 2000 will see this issue gain some greater respect from Wall St.
Have a great Wednesday
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The Long and Short of it
FNTN We've waited a long time for confirmation of a buy signal. The buy signal is in. Long.
NGWY Initiating coverage here of NetGateway. We would buy any pullbacks in this issue.
GERN Geron Corp. Emerging Biotech issue with promising genetics potential. Long.
HSAC High Speed Access Corp. Dynamic technical structure in the making. Long.
AMD Long twice in the high teens and out in the low 20's. Prospect of a breakout. Long.
FONR Breakthrough MRI technologies. Following an explosive breakout. On a buy watch.
MPCO Environmental growth stock for the new Millennium, longer term potential. Long.
SCAH Has a cross pollination relationship with Millennium Plastics MPCO above. Long.
GMGC General Magic. Promising technical structure, could be a winner in 2000. Long.
NMGC NeoMagic Corp. Same story here major reverse head and shoulders forming. Long.
SNIC Sonic Solutions. Potentially very dynamic formation in the making here. Long.
WSST Wall Street Strategies information services - Impressive. Sell at $7 or stop at 4.35.
NOVL Hate to chase a stock higher, but this one looks like a breakout to be bought. Long
ORXX Resources hedge and cheap entry to a rising gold price. Looks interesting. Long.
ALLP Alliance Pharmaceutical. Out of Alliance Pharmaceutical Long at again 7.75 stop.
BYWD Strong momentum and potentially favorable outlook for now. We're long Baywood
CDE Long. This looks like a reasonable Gold hedge. Could be a major low working here.
TBAE This stock is starting to look dynamically bullish and appears to be taking off. Long.
TBAEW The warrants on TBAE are a very low cost entry into the underlying TBAE. Long.
WDC Western Digital Corp. Just in case it suddenly takes off, re-buy at $4.00 on stop
MICA Long at $2.15. Tax selling in MICA suggests further rises may lie directly ahead.
PDG Placer Dome Inc. Probably worth holding as an inflation hedge. Long at 11 3/4.
WAVO Shaping up technically very strongly with a major breakout at $5. Long at $4.00
WWEN Long at 3 and 4.5. Lack of follow-through suggests more consolidation short term.
MXTR Could be looking at a strong recovery situation in hard drives. We're long MXTR.
CRUS Cirrus Logic moving up nicely - could be preparing for a major upmove stop at 13.0
TAR Telefonica de Argentina - We are out at 30.5 with a profit, waiting for a re-entry point.
SGI Speculative buy based on divesting and improved prospects. Long at 10. Tgt 20.
SIII Breakout? May have made a very strong bottom technically. Keep stop at 10.85.
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Takeover Watch - based entirely on information in the public domain drawn from various media.
TARGET CO POTENTIAL ACQUIRERS
Chiron (CHIR) Great performance topping out? Novartis apparently interested to buy rest
Unocal (UCL) Is this the final bottom? Lift Off... By one of the Oil Majors?
3 COM (COMS) Turning higher again - Trying Siemens, Intel or other chipmakers
CompUSA (CPU) Acting poor - Possible low now Grupo Sanborns of Mexico taking stake
Cabletron Systems (CS) Turning bullish again Cisco Systems, Lucent Tech
Merrill Lynch (MER) Merrill improving - poss buy Chase Manhattan, other majors
MicroAge (MICA) Use any pullback to buy more Investment Banker to enhance Sh value
K-Mart (KM) Looking better & higher - strong Rumours of acquisition by retail majors
Noble Drilling (NE) New 52 week highs - bullish Could be acquisition target of majors
IDT Corp (IDTC) Consolidating in low 20's range Ripe for acquisition by a major
Net2phone (NTOP) Consolidating, low end range? Same applies to IDT. Low rate provider
Sprint (FON) Consolidating due merger problems Under Acquisition by MCI Worldcom.
Sprint PCS Grp (PCS) Downgraded on price Now part of the Worldcom deal
CBS - Media stocks remain mostly strong VIA - Viacom out at 55. Mirroring CBS.
ADFC - Mirroring CMGI's sharp rally. Awesome CMGI - Buyout for $500 M. Trading ops
VSIO - Mirroring Microsoft for now - stop at 45 Microsoft to buy this co for $1B plus.
UK - Union Carbide - Consolidating - Out at 61 Dow Chemical buyout - bottoming out?
CLFY - Clarify to be acquired by Nortel Networks NT and CLFY's rally awesome to behold
WLA - Warner Lambert - Bidding war heats up AHP - American home products vs Pfizer
MTC - Monsanto Disappointing. Should come back Various suitors, possibly Novartis or Pfizer
HQ - Hambrecht & Quist Chase Manhattan Bank
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