TDA...After looking at the day chart, Nextel will be down for the weekend.
If you look at the Yahoo daily chart, the trend is down. It has been down gradually, for days. When this happens Nextel usually breaks out downward, especially on Friday. Be carefull, be prepared to preserve the recent gains, keep fingers on the trigger.
Early in the week, the hype was on wireless, with PC stocks predicted to retract. This happened, but Nextel didn't benefit greatly. Some small podunk cellular company is selling at 30+ after news of the company adding 1 subscriber. Nextel is not reacting to market news, look at the recent press releases, nothing but affirmation of junk bond ratings.
If everything goes as expected, I will be rejoining you as Nextel shareholders soon at the 26 range. If not, I'm still coming to the party, even if I have to crash.
Good luck on Friday
Al G., the guy with nothing but gut feeling. |
