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Jim,
Thanks for the info. If it pulls back much from here, I'll get stopped
out at a small loss. The fact that it is so near to the bottom of the
channel was why I'm jumping in here.
JimG
-----Original Message-----
From: Wooglinx@xxxxxxx <Wooglinx@xxxxxxx>
To: metastock@xxxxxxxxxxxxx <metastock@xxxxxxxxxxxxx>
Date: Saturday, January 30, 1999 4:27 PM
Subject: Re: Weekly Pick
>Jim Greening:
>
>If memory serves me right, a few weeks back it was announced that GMH was
>going to purchase US Satellite Broadcasting. Last week, GMH announced it
would
>purchase the high powered satellite assets and medium powered DBS business
>from PrimeStar including rights to their 2.3 million customer base. With
that,
>GMH and DISH (Echostar) will be the only two companies in the satellite TV
>business. Further, by year end, both will be able to broadcast local TV
>signals into the 1200 primary markets. (Currently prevented by previous
>FTC/FCC rulings favoring the Cable TV coverage of local markets.)
>
>As a Cable TV customer in the Greater NYC area, I can't wait. We've been
hosed
>by the Cable companies over the years and I'm ready to jump. (I could do
this
>now except my wife insists on local TV coverage <G>.) Another factor has
been
>the township ordinance against satellite dishes which until just recently,
now
>accepts the smaller type dish like that of Direct TV. Direct TV is price
>completive with cable in this area except for the one time cost of the
dish. I
>expect price competition will get intense when the FTC/FCC pulls the plug
and
>permits local access.
>
>I've been watching both GMH and DISH for an entry point as well. IMHO, they
>need a little time to consolidate at current levels or pullback somewhat
after
>their recent run up. That is the reason I believe both were soft yesterday
as
>the market stormed ahead.
>
>Good luck and good trading,
>
>Jim Barone
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