Al, sometimes perspective is in order. This is one of those times. While I have no personal quarrel with Ed, I think you're wide of the mark about his predictions. He has consistantly been a NXTL bear, alsways claiming that the price was too high. Like a broken clock, he was eventually right, at least in the short term. Again, while I have no desire to get into a personal shouting match, one must understand the perspective of history. Here's Ed's first post, typical of his NXTL position:
Tom Papadopoulos (1155 )
From: Ed Pittman
Sunday, Jul 6 1997 1:20PM EST
Reply # of 3368
Tom interesting post...
If you look at a 5 minute chart ( if some one wants info. i can post a free URL) of NXTL..I use measurements always one leg then another..On the move low on 6-30 was 18.50 which I subtract from the high on 7-2 of 20.30 you get 1.80...
Now you take the low on 7-2 add that 1.80 you get 21.30....The move is completed..correction is in order..Also if nextell gaps down we could have a island top..Check it out...
By the way I like Nextell...its just to expensive at this time for my Company to switch over to...Its over twice the monthly fees..as I have Corp. rates..Plus the phones are $ 200 and they are willing to give you $ 50.00 for your old phones...Not good enought for me..
I have been a long time player of this stock, but at this time I'm on the sidelines waiting on that correction..
Good trading, Ed
Al, Ed watched the stock move from 13 to 32 (he said on 7/6/97 that he was a long time player of NXTL), claiming it was overvalued and due to pull back. Ed missed a huge opportunity because he couldn't pull the trigger. Now I understand how that works because I've been caught up in the same thing at various times too numerous to mention. But my point is that Ed's perspective has been wide of the mark for most of the past 9 months.
My current ta view of NXTL? I expect the stock to go sideways until late January or mid-February. Then I expect the beginning of the assault on the old high of 55.
Arnie |
