you should really check your facts before you post. FCM (was FTEL before moving over to the Amex) has ben trading since at least 1986.
I do know my facts.
1. I know FTEL/FCM history, even before 1996. I have "invested", speculated, traded, and gone to heaven and hell with it. So I am patiently, [and sometimes painfully], well aware of this beast.
2. My post was in reference to the representation that FCM was on an "Uptrend". It is not.
I quote:
THE main thing here is on a 6mth graph each high is higher than the last and each low is higher than the last, so the stock is going up slowly, its gone up a gazzilion % in the last year , it's now maturing.
iqc.com;
#reply-8798187
_____________ go ahead, check the chart... there is no such thing (at least in this chart, which it is the one made reference to), that each high is higher than the last, nor that each low is higher than the last.
The chart shown, is not even a month old, starting when FCM started trading at the amex.
3. Most importantly, when the Sultans of Hype begin to make comparisons that have no base... ("AOL", and such), then I feel that we start to go aboard the train of the absurd.
4. In addition, I did point out, that I was aware of prior history, as my own words attest:
Besides.... there is not enough history on FMC alone to start making determinations..... Unless you look at the old FTEL.... Which then... it continues to show the typical FTEL history... Spike up..... grueling down trend afterwards... until the next spike.
#reply-235
5. Why do I think that FTEL and FCM can not simply be "linked together" as if it was a chain link fence, and voilá.... we have a six month chart...?
A = The Flea market, (that is the bb market), and the AMEX are very different markets, for one, at the AMEX, (as far as I know), is run with "specialists" and not market makers as they do at the bb...This means, as I understand it, that your bid or ask, is "represented" and reflected by the same.
More importantly, its participants are very different, indeed, there may be larger institutions "observing" FCM... possibly even considering buying it. I do not know that for a fact... but at least the exposure is there.
The bb... they also "look" at them... but more like looking at a dog with fleas... Many institutions will not even look at the fleas.
Further, once at the AMEX, there is a better chance that the stock may be considered "marginable", (once specific criteria is met)... at the bb, the most likely item to be considered "marginable", is the sanity of the "investors" in these fleas. (including yours truly).
Even using your own chart... (linked)... all it shows is a gigantic downtrend that was finally broken (decisevely), around DEC-JAN99, and then a couple of spikes... as mentioned before, and the clearest thing I see, is an enourmous barrier of resistance at $3.00, that surprisingly, (at least to me), such resistance has not acted as support much... we go through it easy.... and down we go....yet again.
In addition, this tells me, (the last three months), that the market can not make its mind up... (I truly wonder why).
Here is your chart:
bigcharts.com
Now.... read this... just as a reminder...
#reply-8769984
Now, in retrospect, the last two trading days, have even gone lower than what I indicated above... so ... does that tell you something ? It does to me, but i won't say it, as I will be labeled a "basher".
Therefore.... while its short history does not prove much... it certainly does not prove that we are in an "uptrend" as the poster I responded to, indicates. The price history, (as FCM), shows a great enthusiasm at first, that quickly fizzled down and was not maintained... in spite of the good news of late.... That, to me, it was a surprise... and an indication that the market knows something specific that I do not.
What I do know is... that the price is lower, and further, everything indicates we are going lower.... MY OPINION
I wish I would be wrong, but I do not argue with Mr. Market, I certainly will not stop you from doing so.
Unless, of course you consider that $2.75, is higher than $5.00, in which case...all this is Moonshine.
So my facts are fine, however, your reading seems to be incomplete, as most of the above was already in my earlier post.
....But perhaps, not as.. er... obvious as I thought.
Of course, I do not mean any disrespect, nor harm to anyone's ego, I would not expect that to be a factor in this thread....
In closing.... here is for your viewing pleasure, what an uptrend looks like... not to mention the advertising plug of this darling of mine:
iqc.com
But hey... you can buy or sell, or do whatever, you are free to do as you wish... It is a free world, you make sure you keep your money in FCM, since "it is in an uptrend" |
