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

To: Al Gutkin who wrote (5759)	4/21/1998 5:57:00 PM
From: Ken Benes	Read Replies (1) \| Respond to of 10227

I do not believe the index funds that now have nextel in their portfolio hedge their positions. I believe that the current selloff reflects the markets uneasiness with the excessive valuations seen throughout the market. Because of nextels high levels of debt, it will, as will all highly leveraged plays, be the first to go down. What was striking about todays decline, was the total absence of buyers, as the stock passed thru various levels of support. I would be wary of buying into any bounce at this point, it looks to me as if there is more downside. I follow many stocks and it appears that very few are participating in the current rally as it matures. This may be a sign of a short term top. Ken Ken