Pardon me Mr. Ensminger, but you are obviously someone who has an axe to grind virtually every time you post here. Whenever I have posted anything about Financial Intranet, it is usually because I have got something to say that might be considered important or useful by some here and I've always gotten incredibly positive and
gratifying responses for my efforts.
I have always tried to be as careful as possible in timing my comments on FNTN and thankfully to date, most of them just happened to have coincided with every major low this stock has generated since I began posting in the 22-25 cent range. In case you had forgotten, that was a time full of doubt and anxiety when no-one wanted to know much of anything about the stock and there were plenty of naysayers around.
There is nothing easy about going out and posting a strongly positive message when the stock is looking grim at the lows and most people I talk to have already turned sharply negative or are really despondent.
It requires the same amount of considerable courage to put my head on the block when everyone seems indifferent to this company, as it did for me to call for the 'Jesse Owens of all Dow long jumps' from 9200 though 10,000 and then to 11,000 in the biggest rally in history, ahead of time, back on March 5th 1999, when most of the 'renowned' analysts on CNBC had already turned negative and as one of the anchors stated at the time: There they go again, this time I'm taking names of all these bears.
Even though FNTN is a low priced stock, it has been a very dynamic trading vehicle, having risen 1000% in 1998 from the lows where we first entered the fray. I believe I called the secondary lows at 40c back on October 8th as I did for the rest of the market as a whole, (as well as calling for an initial 2000 point Dow rise back then) and the mid-January and late March lows in FNTN as well. Each of those lows produced gains of around 100% or so and I have not changed my outlook on the stock. These have been outstanding gains, when measured even against some of the biggest gainers on the Nasdaq.
Incidentally, when the Nasdaq hit bottom at 1357 on October 8th, I do believe I was singularly alone in calling for a move to new all time highs above 2000 and have been revising my targets upward ever since. Friday we closed at 2503.62, up 31.34 and just above one of my important interim Nasdaq Composite targets.
I am not in any hurry for FNTN to move up. I believe it will do so when it is ready and may surprise many by how powerful and sustained that move may eventually turn out to be. It is still my stock of the year and I expect the price has the potential to move up by as much as 1000% before year end. It could happen very suddenly, so be ready.
I don't make it a habit to bellyache about missed deadlines and the like because I believe it to be unproductive and frankly I just don't care. I am a technician and all I am worried about is the technical structure of this stock, which continues to improve as time goes by.
I know how hard it is to grow a company and how frustrating it can be when things don't go according to plan, but all of these things are factored into the technicals and so far I have not observed any major deterioration in the long term potential megabase that FNTN has been building, holds for all of us. In fact my ratings continue to improve.
It also seems, you fail to acknowledge the fact that when the top analyst of a major Wall St investment house was calling for Intel to go to the 50's pre split in the fall last year, I not only was calling for the 150's, but explained why it would happen as we moved strongly into the second phase of the "Next Great Growth Wave" in High Tech Stocks. The high was 143. In late October when Yahoo was 128, I called for a run to 180 and later 200 and then 220, to reactions of total disbelief. I made similar calls on IBM a few weeks earlier. I don't profess to be infallible and my timing can sometimes be a day or two or even a week or so off, but I certainly have nothing to be ashamed of in my track record and I have received high praise for my accuracy from all quarters including major firms who have asked permission to quote my work. If you can find a better record day by day anywhere in the World over the past year then I'll will just have to work harder.
The fact of the matter is I have spent a very great deal of time and effort developing an accurate system and it works very well for me.
I believe wholeheartedly in it and therefore I trust it enough to base my prognostications on its foundations. As far as I can recall, there is not one issue I have highlighted that has not risen significantly within a few days or weeks of my mentioning it.
Issuing sell signals is not our forte. That is a personal issue all of us must decide individually and in respect of others, should refrain from commenting upon. However, implementing sell disciplines that prevent stocks going too much against initial or subsequent price levels is an intelligent way to trade.
Which brings up another point, a lot of investors have been spoilt by the gains in other stocks and at times have been seduced into chasing after hot Internet stocks and from what I have been hearing some have ended with disastrous consequences. A lot of people were shoving this down my throat a few weeks back wanting to jump into all sorts of Internet issues that coincided almost with the exact highs of most of the Internet highflyers. In another forum a few weeks back I warned that Amazon and AOL were next on the list of majors about to be taken apart, big time. The easy money in Internet stocks has already been made. I strongly believe that the easy money in Intranet stocks has yet to be made by those who can manage to stay the course who can exercise that much needed patience and restraint.
As far as expectations are concerned, it is very hard to determine where we will go in this or any stock for that matter. My Golden Rule is: If you can sense or foresee exceptional potential in any stock, then it is a mandatory discipline to try and have as much exposure to that issue or sector as you can afford, just in case it turns out to be
a runaway bonanza.
There have been countless incredible opportunities that have been passed up by us all over the years and the only way we can all win in these situations is to make that hardest of all decisions. If that decision quickly becomes profitable, then you have an immediate edge. Anytime you can gain free exposure, which is the case for most of the early and most fortunate investors here, you are so far ahead of the game, you should be especially grateful for the cushion that exists beneath you, at the same time respecting those who have bought at higher levels and who may be just as convinced or even more so.
Look there is nothing easy about this business. If the most successful investor of all time can lose 15% in the first quarter and almost 40% over the past 18 months, consider yourself lucky if you are doing better.
It is interesting to note the most successful investors by far on this thread are the ones who are the least concerned about the day to day fluctuations and doubts that are raised. I can tell you the track records of some of these folks are legendary and put most people on Wall St to shame. But they still made their money the hard way, through patience, determination and long term faith in the stocks that they selected, many of which are
still coming through for them to this very day.
Thanks to Wally, David W, TMK, Flo, Bill, Blair H, Raven, Craig, Oly, Steve, Brian, Peaceful, the two Reverends and everyone else here too numerous to mention for your friendship, feedback and support in maintaining what is a great thread to be a part of.
It's been a real honor to be among you and may God bless you all.
By the way, buys to sells ratio Friday was 6:1 positive
Have a really great week
A troubled Wiz |
