Morning Malcolm: The triple impulse basing formation seems to be manifesting its effect. I'm re-posting this mornings post over here for the benefit of visitors.
In reply to post #687 on the Next generation Web Stock Winner Thread:
TMan: As usual, a bevy of beautiful posts of your recent trip from you. Thanks!
Your analogy of the potential for a mania to develop for our own particular brand of tomato, following the tulip style tomato mania that involved the Broadcast.com IPO, (BCST), on Wall Street last Friday, may not be so far fetched.
As the majority of us here would like to believe, the downside of our being patiently long Financial Intranet may be a share price that reaches a few dollars or more, whereas the upside could potentially be many, many times that.
With that in mind, after Friday's frolic, where most expected all manner of streaming video to come jumping out of their screens at them from the latest Website of the moment, I'm beginning to truly believe that if FNTN can deliver on its promised product range and in addition demonstrate that it has a highly capable Video product, (thanks in part to World #1 contender and strategic partner in that arena, Siemens), that will be superior to all the allegedly false claims and non-deliveries by others that have already been made, then the suggestions that FNTN may finally be about to join the real high flyers club, may not be such an outrageous fantasy after all.
The only thing we don't know and no-one can possibly know at this stage, is just how high this puppy might fly. The technical outlook seems to be improving very nicely day by day, with growing support emanating from other renowned technician's, whose views are becoming increasingly positive. These views are underscored by their recognition that the spring-like power plus potential of a triple
base formation and the compounding effect of a base over a base, differs markedly from most other formations in quality and structure.
There's an old adage: The fundamentals are always in the charts. As a
consequence, the emerging fundamentals of Financial Intranet are beginning to look as if they are being increasingly reflected in what any technician worth his salt, would describe as an exceedingly bullish and classic chart formation. Whilst it may be tough for some to appreciate, from a text-book stand point, I would have to
conclude that: 'It just doesn't get any better than this'? How much better does it have to get before everyone can see that the lights are green? Answer: I don't know. I just know that there's no such thing as the 'Perfect Trade' which lays out all of its true potential ahead of time. You just have to work with what you've got and act accordingly, until proven otherwise. If the lights look green, you've got to put the pedal to the metal and go for it. There will always be doubts and fears, just as there were for me with Citicorp at $10 in 1991 and were for all the holders of Microsoft, Intel, Dell, AOL, Yahoo, Amazon and all the others who sold too early, due to whatever prevailing negative psychology or other disillusions that may have existed at that time. As Don has so eloquently illustrated for all of us on many occasions, the short term gains that are always ever so tempting, are your very own worst enemy!
As potential trades go, this has to be one that rates as 'Once in a Blue Moon' type perfect 10. After what you said at the bottom of your post, there's a lot to work with and much to act upon. If both you and I are correct in our respective fundamental and technical analysis, then the 'Window of Opportunity' is still wide open, but it may close sooner than you think, if Wall St suddenly jumps all over this
one and turns the money spigot on to the max.
If you've been this patient thus far and now can see the real story begin to unfold, you owe it to yourself to stick with this one through thick and thin. You've got to give this issue the space and time to capitalize on all the heartache, patience and money that you've already invested, because once it begins to move, the market
should do the rest for you and reward you with the appropriate amount of payback whose size may well become a function of time.
If you don't believe how well this can work, just take a look at the chart of Dell and realize that the equation that made this a formula for success is called:
Patience + time + initial investment = The mega-profit performance of a generation.
Why am I writing this post? Because, I saw the same type of basing formation on Dell years ago, just before it took off on the tear of a lifetime.
Remember, when it comes to successful investing, your own worst enemy is staring at you in the mirror. You've just got to perceive it, then achieve it and let nothing stand in your way.
Thanks for all your valuable DD,
Have a great week
Rgds
Wiz
By the way, I liked our friend from The Netherlands's ideas today, he's got the right attitude as apparently most of his countrymen do in a just completed survey as the happiest and most laid-back people on Earth. US did not fare so well: For the full story, check out this link.
news.bbc.co.uk. |
