NEXTEL Message Board - Msg: 3074204

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Technology Stocks : NEXTEL

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To: mark bailey who wrote (3904)	1/1/1998 7:11:00 PM
From: Ed Pittman	Read Replies (1) of 10227

Off Topic!!!!!!!!! Mark well here it goes...NDX broke the uptrend in Oct. it made a leg down into late Oct. in the 930 area...then back up to 1080+ area... Well you should be able to measure the high in oct. which was around 1150 area subtract it from the low in 930 area = 220 points... Now the move up to 1080+ subtract from the 220 points should give you a completed move..But it didn't..Because it bottomed at 938 area..instead of the 860 area...So, that tells me the whole move from the top in Oct. to the bottom of Dec. is One leg.. Now we will see how far up we go..from that point I will subtract the points from the one leg down to get a target price for this correction... What would be a target price for the upside on this NDX..1040 right up to the downtrendline..Could it go higher..Sure... What would get me all wet with my idea....A higher high than 1150+ area. There is also small leg moves inside of larger ones.. hope this helps..if you have questions that I can answer, I would be happy to do so... Now for Nextel...we have 4 trading days left for a small key date...I think we will head down to fill the gap at 24 1/2 then head back up..This also should be a measured move. Remember predicting price movements can be a humble experience Good luck to all.. Ed

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