Right On! Wally: In reviewing many of the posts recently, I detect a certain consistency of what I would term unwarranted worries, with a fair amount of nitpicking and fretting over seemingly minor details that are unlikely to fundamentally affect the company.
Whilst in a way this is a good thing, because from under this umbrella of doubt, FNTN can actually continue to climb a perennial 'wall of worry' as all emerging bull markets have to. I think it is much more important to stay focused on the big picture and in particular some of the comments that management has recently made. I am mainly referring to their determination to achieve certain goals, as soon as possible, such as Nasdaq listing along with attendant enhanced shareholder values etc.
I also sense, as you do, that there may be more to this relationship with Siemens than meets the eye, both from the historical relationship and also as one might be able to glean from Siemens' carefully worded Email, that appears to emphasize the expertise and professionalism of Financial Intranet's management and that they 'expect' success.
It also looks as if a number of important developments are about to take place during the weeks ahead and coincidentally, it appears as if we have built a nice basing action at higher levels in anticipation of these events. A breakout over these ranges, could therefore be quite explosive.
If this thread is any indication, imo, it's growing interest, activity and numbers of participants, not to mention the potential thousands of lurkers who drive by each day, all tend to point towards and indicate that big things lie ahead.
I would also not underestimate the level of interest and enquiry they have been receiving, if only from the copious amount of information that a standard Internet search of FNTN tends to throw up and don't forget the valuable Wall St connections that have yet to be tapped once all systems are go!
From a technical standpoint, I believe a re-penetration of the 64 - 65 area constitutes buy window #1. Following the impressive support at lower levels last week, it looks to me as if there was a concerted effort by investors willing to take whatever was offered in the last few days with good steady volume. As I said before, they seem to show up without fail, every week, day in day out. An incredibly positive indication.
What is especially noteworthy is that, in spite of the trickery involved in the down-tick close on Friday, my indicators remain strong as do those of Collin's (Warthog) charts in his excellent posts each evening. Although I don't fully understand the formulae and math behind some of his indicators, you don't have to be a rocket scientist to figure that when the heavy black line goes positive over the other two thinner lines, it invariably signals a major up move lies somewhere ahead, either imminently or within a matter of days. The fact that this indicator has turned upward and remains so, ie. bullish, is a particularly positive omen.
A further meaningful penetration above .70, would have to be construed as exceedingly bullish in my view and would likely set the stage for a run through the Dollar barrier and perhaps well beyond.
Although unreported in the mainstream media last week, one index actually made new all time record highs, whilst the Dow suffered a weekly loss. Any guesses as to which index: "The Internet Index", closely followed by an uncharacteristically strong OTC Index, Nasdaq, S&P 500 and OEX in order of strength. It's not cast in stone, but more often than not, this is considered to be a bullish divergence, especially when supported by a strengthening Transportation Index, so if the Dow can put it's Asian worries to rest and catch up some, it should be a good week.
You may recall what I suggested to you a few weeks back, about the probability of a mad scramble developing for 21st Century Internet exposure by many of the old line 20th Century majors such as GE etc., well 'prior' to the major internet investments announced last week.
I believe this trend is just getting started. What happened last week has put the whole World on alert. And now with the news that the Internet is on track to do over one billion in advertising revenues this year, it's just further validation of the Internet's growing importance and more and more icing on the cake.
For those who worry whether FNTN will get the exposure it deserves, all I can say is, in this kind of environment, it will. You can count on it.
Have a good week
Rgds
Wiz
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