BUY Vonage Holdings Corp. (VG) - last $1.44. VG  provides broadband Voice over Internet Protocol services to residential and small business and home office customers. VG is launching applications for the iPhone and BlackBerry that undercut the international calling rates of major wireless carriers. The free programs let users place calls that are routed over Vonage’s network, at least for the international leg. When the phones are connected to a Wi-Fi wireless Internet hot spot, the calls go over that link, bypassing the mobile phone service carrier entirely. When Wi-Fi is not available, the calls are placed as local wireless calls, using up minutes on the cell phone plan. Vonage then carries the calls to their overseas destination. The fact that the Vonage app for the iPhone can use the cellular voice channel is unusual. Several other voice-over-Internet Protocol, or VoIP, apps for the iPhone and iPod Touch can already place calls over Wi-Fi.  The new applications for mobile phones have no direct tie to that business — subscribers to Vonage’s home phones will pay the same rates as other users of the apps. Company is moderately priced for further gains. Near term trading pattern suggests consolidation and early accumulation. SPM+Game Theory 68 LONG with EXIT POINT $3.00.