C'mon Ed, you don't need a chart to figure Nextel, down before up.
Ed: I have been following N for some time, made plenty of $$$$ playing the ups and buying the downs, wish it was the same with my other deals. Lets reason this out: Low volume runs Nextel up, high volume dumps it. Simple case of, let the small guy run up the stock, then the big guy can take the gain. That's the nextel story. Nextel's middle name is "Volitile" There is plenty of stock and options out there, also convertable debt, there will never be a shortage of Nextel stock.
End of year is usually a bad time for the market, holidays yield low volume, plus end of year sell off, right? Any weakness will cause a stock to dump with low volume, this is contrary to the about scenerio of high volume dumps, but this type of dump (low volume) is not pre-planned. Nextel has historicaly dumped when the Naz shows weakness, so, look for N to back down to 18 or below before the end of year, till then, If your in it for the money, no thanks.
Al G.
If I learned one thing about this market, just when you think a stock has run away and out of sight, it seems to show back up at the station to allow a few more people to jump on. |
