To: David McCleary who wrote (20685 ) 11/6/1997 10:23:00 PM From: Serendipity Read Replies (1) | Respond to of 41046
Mr. David Mc Cleary: Thank you for your unbiased and well reasoned posts. You are certainly entitled to your opinions. In fact, the recent price movement of FTEL validates your correct technical analysis. The harsh treatment you have received is unfair, short sighted and lessens the quality of FTEL board. I also, solute the few courageous supporters of of your right to post your views--thanks to Roy DeRousse and others. As a matter of fact, I too sold my shares of FTEL at 6 3/4 (my cost) on bases of technical analysis. I did consider posting my technical findings, but decided not to so as not to anger the board. Having seen the attack you have received has promoted me to write now. For the record, I did not sell because of change or lack of faith in the fundamentals of the company--which are full of promise--but because it became a high probability that the stock will decline in price and I can buy it back at a lower price. My reasons for selling were not evil or out my love having turned into hate, but for preservation of capital. I have to confess; I am in the Market to make money and not to prove my stock picking prowess or to support a particular technology or company. I know, it is selfish but. Nevertheless, here are some of my reasons for selling ; 1--The good news was out, 2--The buyers had bought and were waiting for the "DEMO" to propel the price higher, 3--The chart formation offered a high probability of break-down. AAPL, TELV, RMTR, CYMI are a few recent and similar chart formations speaking for themselves! These are charts I gave to the friend whom introduced RB's News Letter and FTEL to me. My friend has been in FTEL about two years. 4--Unanimity of bullishness of the board, 5-Thursday's price-action signaling negatives-- the first day of conference when some buys were to be expected--at least by me! 6--The fact that going to NASD will not necessarily send the price up, by cutting the MMs and short sellers out. (Ref. Iomega {IOM} moving from NASD to NY and subsequent price drop. 6-The fact that I could not find posts indicating sale at 10s or 9s.indicating fear of reprisal at best or lack of candor at worst 7-The fact that I intended to buy the stock back-- when technical turned positive. Well, David, you are no longer alone! I have joined you and the few other decedents!. Soon, I too will be called #@$%^$ and be tar and feathered and be pushed enough--so as not to post on this board again. Just kidding. <GGG> But then may be as reality sets in we will not be looked upon as "infidels" but as investors with different views and methodologies. Regardless; thanks again for your opinion and thanks to those who supported your right to post your differing viewpoint and GOOD LUCK TO ALL.