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Technology Stocks : NEXTEL
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To: Arnie Doolittle who wrote (5177)3/17/1998 1:24:00 PM
From: eric podell  Read Replies (1) of 10227
 
Hello to all from a longtime lurker and shareholder since 1995. Managed to buy Nextel at 22 and watched it go to 13 and stay there for two and one half years. Thru sheer luck I came across this thread while looking up another of my stock debacles. I want to thank you Arnie for giving me the reasons to stay with this stock rather than breaking even last year. Thanks also to Al Gutkin, Bubba et al. However, I do have some concerns/questions. I'm concerned when I read euphoric price projections on a company that has never earned a dime. It reminds of the dancing that when on last year on the run-up. That signaled the top for the stock for some time. I am into euphoria as much as the next guy but every time I participate in such joy I stop selling calls waiting for the "explosive breakout." Each time I have done so I've stopped making money in this stock. What do you think of selling calls to 35 say 2-3 months out? They say that buyers of calls lose money 90% of the time so I figure I should take the the other side. Also, I've read quite a bit on T.A. and I've never seen a good reason based on human behavior why a cup with a handle, a flag, a saucer or a dog with a bone should motivate buy or sell decisions. The only T.A. concept that makes sense to me based on what motivates human behavior is support and resistance. Explanations such as backtesting certain formations which resulted in appreciating prices hold no water because they ignore the myriad of such formations that failed and most importantly do not explain investor behavior in terms of human emotion. All that said, I hope the market decides that Nextel is Santa in Spring. It's snowing in Madison,WI with three days to spring, I've got my Nextel and hope springs eternal.
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