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Technology Stocks : NEXTEL
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To: fma who wrote (3428)12/4/1997 1:23:00 AM
From: Arnie Doolittle  Read Replies (1) of 10227
 
To all,
So what happened today? First, the high techs were savaged, particularly the computer related and telephone equipment related stocks, seemingly due to reduced business (short term) from Asia. As often happens when emotions and irrational behavior prevail, they threw out the baby with the bath water today. NXTL is the baby and Ed was wise to jump in with both feet. Fortunately I've freed up some cash (without using Al's credit cards). We're still looking at a bullish triangle on the daily chart.
I do disagree with Ed's belief that the turnaround will come this month. We're still in a trading range and I expect it to continue until January, possibly early February.

NXTL's pattern since June is so similiar to its mid-92 to mid-93 pattern that it's almost scary. When NXTL turns up, it's going to roar like a lion. I hope that I'm wrong and Ed's right about the timing but either way there's good news coming for NXTL holders. Keep your powder dry.

Arnie
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