Hi Malcolm et all, I'm back. Was a victim along with 45 million others of sat outage today, so even though I was flying blind, felt compelled enough to unleash a torrent of green in exchange for cheap FNTN stock in the high .50s...
I really liked this close today. We have a potential classic reversal in the making here. If we can build upon it and work methodically higher over the next few days or so, it could yield awesome results.
The structure is compelling and as you pointed out the selling was light but the price dip has re-generated a lot of interest in the stock down here.
Malcolm, you seem to have had a very good feel for FNTN and I think you are right on the money. I know from your past experiences, both good and bad, that you have an enviable knack for aggressively buying dips on these BB stocks that have yielded some spectacular gains for you. As I pointed out yesterday, many of these stocks act out these familiar pullback patterns just before they begin to move sharply higher, which you appear to have invariably picked up on.
A return to the recent highs and trading range would be incredibly bullish in my view and in all probability the stock would traverse this area on its upward journey in a bit of a hurry. As you point out, that rush could turn into a stampede, if conditions are ripe beyond a dollar.
In response to Ronald's post earlier, I might refresh memories by pointing out that FNTN management has a proven record in taking a start-up (in this same industry), all the way from infancy to 'Golden Parachute' status, 'in fairly short order', where the company in question was soon acquired by what was then, a major industry name.
Still, from an analytical standpoint, it seems as if expectations recently got a little ahead of themselves, notwithstanding the fact that FNTN has already surprised most on the upside, not only in terms of positive fundamental developments, but also in terms of share price performance, we've got to be reasonable and wait for the timeline to unfold.
The overwhelming desire by all for additional adrenalin to be served up asap, in the form of more riveting announcements may have in of itself, contributed to this short term aberration.
My sentiments are that management has surprised us enough already that other 'exciting developments must be in the works'. For example, I know for sure from unsolicited private messages, enquiries and E-Mails I have received, that Financial Intranet is being approached by a number of different industry sectors that see this product as having potential applications for their own particular areas.
That level of interest, so early in the game has got to be an extremely positive indication of future prospects, in my view.
I'm also relieved to see a return to normality and enthusiasm here, after we went off the rails a bit in recent days. This is a good thread. Let's keep it that way for the road ahead.
The overall market looks interesting. If we can avoid any unexpected shockers over the next few days and the Nasdaq can get back on its horse, this market could really surprise big on the upside.
Sorry, I could not log on sooner, but I was out in the darkness with my torch, trying to find Galaxy '3R' in night sky on a near moonless night.(gg). Galaxy 4 which has served us flawlessly, courtesy BMI, since its launch from French Guyana in '93, suddenly flipped its lid and went walkabout. Action in FNTN was probably just too much for it to bear...
Given the critical beyond control nature of this celestial event and being left feeling utterly helpless and powerless to do anything, I have to commend DBCC's quick thinking and swift action in restoring service via its next door neighbor but one Galaxy 3R. (Red light Telstar 5 is sandwiched in between).
Fortunately, G3R is one of the newest and most powerful birds in orbit and although lining up KU signals requires some patience and precision, its proximity to its predecessor made it a logical choice as alternative. More importantly, its strength of signal made it a lot easier to find than normal and the whole task of re-alignment a lot less daunting. Is modern technology wonderful or what?
Still, it wouldn't surprise me if a lot of folks are still out there scratching their heads even at this hour. I think I got lucky.
I trust this 'tech analysis' is of some help to all,
Thanks for the 'call to action' Mal,
You got me all fired up!
What a day...
Rgds
Wiz |
