S , Sprint Nextel update

s may 21 2011

In January we recommended buying this stock as the e-wave of the triangle was still unfolding. It made a low of $4.12 but lets assume it was purchased at $4.25 so at today’ $5.50 you are up about 30%. The stock should go higher, in fact this is more or less the time when something should happen to accelerate the advance. No idea what that may be, take-over talk, anti-trust rumblings around that other take-over, CRTC meddling or perhaps they will find a way to burn water. Whatever it is it should happen soon. Ratchet your stop-loss up and wait for a sell at about $8.