To: taffard who wrote (38627 ) 6/13/1999 1:25:00 PM From: If only I'd held Respond to
FNCM, man, where to start?? Let's take a look at the manipulated chart. Prior to the major run-up, we have the creeping affect. My guess?? Oppenheimer and Tokyo Joe. On April 13, Oppenheimer comes out with his silly, almost disgusting, Strong Buy and $20 target. Notice the unsustained gap that morning. Following day, another gap up to mark the beginning of a slow steady decline. All the while, the analytsts are saving face by issuing more BS. Meanwhile Oppenheimer won't even buy the stock when it is below 5. Insider sales running rampant. Huge insider 144 filing comes out the same day as the name change. Form 4's become nearly impossible to track because the stock sold was FNHC stock and reports likely being delayed. Look, it just smells. From the stupid rumors coming out about GE Capital and Ameritrade buyouts, to the March 10q, to the float increasing right before your eyes, while smart money knew all along that the float was 50 million. This thing has Tokyo Joe scam written all over it. I beleive Oppenheimer is guilty of manipulation here also. And now, it is evident, that for this company to stay around, it needs to do another secondary. So off they go to try to sell their story to the PIPR conference attendees. Sure, they'll use the 52 week high, the cash investments, etc. to spice things up. Sure, they will probably go in and ramble on about the huge % increases in revenue, but they will still seem absurd when you compare them to the market cap of the company. The latest earnings release has magically disappeared from the Yahoo news feature since they changed the name of the company. This thing just smells of a stock selling scheme. Maybe they do have big plans. But I don't think they stand a chance of giving investors a return on their investment with all this stock being sold and optioned out, when you consider that they already carry a market cap of 1/2 billion dollars and they do less then 1/10 that in revenues. Don't even get me started on earnings. All the news that shareholders claim is so good for the company has basically no relevance. Like the Xoom deal?? Typical BS spin about a "marketing alliance". Come on, they paid for a banner. It "costs" them money. It's all hype and BS. And it has been manipulated from the start. I beleive 80% of the volume has come from Tokyo Joe and his band of traders and hypsters. Maybe I am just fed up with seeing this stuff. Maybe not enough to go short on, but there's no reason to buy either. I'm starting to see these big gappers as the ultimate scams. I'm probably just catching on to things the more experienced shorts already are well aware of. I just can't help but think 10 years of earnings are priced in right here. And that's if they manage to stay in business. And they want to sell more stock??
