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Technology Stocks : NEXTEL -- Ignore unavailable to you. Want to Upgrade?

To: Ed Pittman who wrote (3356)	11/29/1997 4:37:00 PM
From: Ken Benes	Read Replies (1) \| Respond to of 10227

Ed: I have some additional information on the approach of wave 3 from an Elliot wave perspective. My analyser is no longer indicating an iminent wave three. Apparently the time sequence is incorrect as you indicated in one of your notes, and the analyser is showing some kind of zig zag three wave corrective pattern. It appears that the explosive move up may be further in the future than we anticipated. This is being borne out by the movements in the stock these past several weeks. From a fundamental perspective, I believe the market has become cautious for the following reasons: 1) service is deteriorating in the New York area and the bandwidth becomes overloaded; 2) there is a general cautiousness in the equity market because of the situation is Asia. A slowdown in our economy may slowdown the Nextel advance; 3) the buildout is costing more than anticipated and consequently some firms have lowered ratings. Considering all of these factors, I would expect Nextel to remain rangebound until some of these questions are resolved favorably for the company. Ken