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Technology Stocks : NEXTEL
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To: jimmyo who wrote (5496)4/1/1998 6:10:00 PM
From: Ken Benes  Read Replies (1) of 10227
 
Jimmyo:

There is one certainty as a result of the developments these past two days. The trading pattern of Nextel is going to change. Each stock has its distinctive signature and Nextel's was very well defined. It was a traders delight, money was their to be made on a daily basis trading in a nearly one point range. Prior to this week, the pattern was beginning to change. With the elimination of 30 to 40 million shares to the mutual fund industry and short covering(using the numbers seen on this board) nextel is going to be a different stock. The wild swings should smooth out a bit and lines of support should be more difficult to breach. The next question, the additional impact we can expect from the first quarter. A number over 400 thousand should easily raise the price of nextel to the 36 range, significantly less will have an impact. I believe all the evidence points to Arnie's goal of 410 thousand. If he is right, there is more money to be made during the next week or so.

Ken
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