Potential downside targets, given the possibility of a market correction of "magnitude", induced by the internet-stock meltdown mentioned previously: Iridium, $17; Globalstar, $9; Loral, $10. For "long-term investors", this will be an opportunity; for everyone else, it may be ugly.
This has nothing to do with the technology, or the basis for the existence of these companies. It has to do with money flow, interest rates, valuation...in a word, risk. It's as basic as an ocean tide...and just as inevitable. The incoming tide will alter the shoreline, but the continent will remain whole...
If you're in too deeply, cut back to the "sleeping" level, or use stops. This sector is in distribution... and it's not a pleasure to mention it. Sorry. |
