Doug, I am going to keep up the bearish attitude. One thing I have learned from investing, and FSI is another example is: My stock picks always do opposite of what I say they are going to do!
I am still not real bullish on the stock. Yes, it has moved a couple of points and yes it does seem to have solidified a base in the $15's. But, yes, I have seen this stock do this 3 other times in the last 2 years. I will admit, the stock seems to be moving up slower this time which to me shows more solid growth. And, looking at the growh compared to other tech stocks, I won't be happy until I see $20-$22 again in the near term.
One of the reasons why I am bearish on FSI for the short term is based on earnings estimates and lack of new orders, I don't see any compelling reason for the stock to move up much higher. There is strong volume on the stock today again. My guess is profit taking. If that is the case it is holding well which would be a good sign. But, no activity on the stock for a couple of weeks, and we will see it test the $15's again.
Don't misunderstand me, I am bullish on FSI long term. But, I believe that there are better places to put your money today. If you are a long term investor, FSI is a good play. I have been here for two years and have not made any money. I will maintain a few shares, but it is time to look at other options when things slow down here. |
