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Strategies & Market Trends : Position Trading Forum -- Ignore unavailable to you. Want to Upgrade?

To: Jeff Jordan who wrote (312)	8/13/1998 6:33:00 PM
From: lib	Respond to of 7247

For something on the Canadian side: NTL - TSE Nortel. Basically hammered today and closed down at $79.60. Strong support is evident here, however, Nortel lately is reliant on what is taking place over in Asia. If Asian markets get hammered over night once again, don't touch it or pretty much anything for that matter. On the other hand, if the HK shows some strength, look for NTL to gap in the morning and trade up. Prediction if this happens - $83 to $84 close. NTL trading is also somewhat reliant on BCE which has a 41% stake in the co. Watch BCE - TSE closely as well to gage NTL. In a fair market, NTL could close above $90 within a week. In the market we're seeing today, day trading is the best bet. NTL moves quickly on the TSE so don't get spooked if you wish to trade it. And with the C$, you can basically buy a million shares for an American C note. Just kidding. All IMO of course.