NEXTEL Message Board - Msg: 6775017

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Technology Stocks : NEXTEL

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To: Ed Pittman who wrote (8303)	12/10/1998 1:33:00 PM
From: Ken Benes	Read Replies (2) of 10227

Ed: Sorry to take so long to get back to you. A study of nxtl for a wave count has been inconclusive. The GOF model is of such a low percentage that it's predictive value is minimal. I have delayed answering you in order to let time develop the more conventional charts I study a bit more. It now appears to me that rather than nextel breaking out of its current range, a retracement toward the 20 level and below is a much more likely scenario. I still view nextel as a barometer for the economy. Nextel's leverage and the companies association to the ever important building industry places it in a very strategic position to gauge investors sentiment to the economy. This past week has ended the very minimal accumulation of the stock that had been evident in the latter half of November. While a clear distributive pattern is not evident, the stock is clearly losing momentum. The continued decline in commodity prices, the weakness in Asia, the dubious outcome in South America, and the slowing of manufacturing in Europe and the US indicate at best a slowdown in the economy. This does not augur well for nextel in the short to medium term. Ken

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