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Technology Stocks : NEXTEL
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To: Mark McLeod who wrote (4503)2/6/1998 10:51:00 AM
From: Arnie Doolittle  Read Replies (1) of 10227
 
Mark, you sure ask a lot of questions. :-) I'll take a stab at some of them.
1. Why purchase 50,000 shares? Maybe McCaw wanted to send the market a signal. "Hey, guys, I'm still committed to NXTL and here's proof, even if it's just a token purchase." Who knows for sure?
2. When McCaw announces the exercise of his remaining stock option, the stock will rock and roll.
3. I think that folks are holding a basket under the stock, catching all stock that falls into it at the current price. That's why the stock went sideways yesterday. At some point the current sellers will run out of stock and the buyers will reach for the stock. We saw a hint of that at yesterday's close and again this morning. Of course there's always the possibility that the buyer will fill his basket before the sellers empty theirs. I don't think so but it must be considered. Remember, one fella's distribution is another's accumulation.

Arnie
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