posted
I don't think this stock has bottomed out yet...I've been watching it I would have liked to seen it bounce off it's 50 day MA but it fell below...I'm going to continue to watch and see how it performs.
Gluck
Posts: 315 | From: New York, USA | Registered: May 2003
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posted
OK, last day at these levels!! Not only is this is a good swing trade it is also a good company. Next peak should hit high .80s. Don't take my word for it! Look at the indicators. It is at the same place it was a few weeks ago when it came up on Arts scans. I could have sold at +90% but I am waiting for over 100% on this one.
-Greg
p.s. Keep a close eye on the market for this and all descisions! -Greg
Posts: 257 | From: mcminnvill, OR usa | Registered: Nov 2003
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posted
Just to add to this I've been doing some DD on FNT because it does look interesting however one glaring point here on their last reported earnings from November they mentioned that they weren't in a position to pay their outsanding debt to Telmex the leading provider of credit to FNT for inventory purchases. Here's a excerpt from that PR: Historically, Provo relied on Telmex to finance its inventory purchases with a line of credit. In March of 2003, Provo restructured its credit line with Telmex. At September 30, 2003, we owe Telmex approximately $6.1 million. Of the balance, approximately $ 2.9 million is payable on November 10, 2003 and the balance of $3.2 million will be payable in 54 monthly installments commencing in July of 2003. However no monthly payments have been made to date. We are currently in negotiation with Telmex to extend the November repayment date and reschedule the repayment terms of the entire line of credit. If we are unable to renegotiate the term of our debt to Telmex, Telmex may cease to provide us with products, may refuse to do business with us or may otherwise attempt to collect the debt. Should Telmex take any such action, our operations would be adversely affected.
Now since this PR Nov14th there has been no mention of paying down this debt or being able to restructure their credit line with Telmex. That's a HUGE RED FLAG IMHO....I know the price is $.42 atm but I can't help but wonder if their ability to not restructure this credit line has severly damaged the future outlook of FNT. At this time I'm still going to wait this one out for some positive news.
G'luck but I think there are better buys out there than FNT at this time.
Cheers
Posts: 315 | From: New York, USA | Registered: May 2003
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posted
great pick, i wish i woulda saw this one earlier. congrats to all who get in for the profits today
Posts: 5 | From: columbus | Registered: Feb 2004
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I can understand your concern Chicoman, but for the meduim term we will see high .80s. Look at the chart! Also an insider would not buy millions if there was an imminent and 100% legitamate red flag. I do however want to thank you for your input and opinion!
Posts: 257 | From: mcminnvill, OR usa | Registered: Nov 2003
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I can understand your concern Chicoman, but for the meduim term we will see high .80s. Look at the chart! Also an insider would not buy millions if there was an imminent and 100% legitamate red flag. I do however want to thank you for your input and opinion!
That URL above shows no insider purchases....I am one on this board who tends to be alot more conservative than most. I'm glad it's going up and your making money it's just not a stock I'd put my money into. Looking back yesterday I had my finger on the trigger I just couldn't bring myself to buy it. I regret it looking back but if this board has taught me one thing it's FST's rule of "NOT CHASING A STOCK" when it's on a upswing so I'll just sit this one out. G'luck with it.
I wouldn't fall in love with it cuz I stand by the facts and they have yet to restructure that credit line with Telmex and if Telmex suddenly decides to stop supplying them FNT could come crashing down.
G'luck
Posts: 315 | From: New York, USA | Registered: May 2003
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I wanted to help people make some money on a stock. I did that and I am satisfied. I will hold this personally to the .80-.90s. I appreciate your warning.
Now Chico maybe we can find a pick that we both like. I rely heavily on TA and you seem to rely on Fundamental. Lets not argue but instead put our resources together.
-Greg
Posts: 257 | From: mcminnvill, OR usa | Registered: Nov 2003
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posted
The same reason it did the first time I said it would. If you have done your technical homework You know that there will always be light volume before a bounce and large breakout. Look at the 3 and 5 year charts and you will see that this stock gaining momentum. It is doing this while trying to stay under the radar. Every stock has a period of consolidation before it "comes alive" I am trying to call this out early for you. This is a good short term and long term play. Just watch.
-Greg
Posts: 257 | From: mcminnvill, OR usa | Registered: Nov 2003
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posted
I havent done my homework on this stock at all. That's why I asked. I wasn't disbelieving you. I was just wondering why. Thanks. I'll look into this one.
Posts: 100 | From: Biloxi, Mississippi for now | Registered: Mar 2004
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