“Your big opportunity may be right where you are now.” -Napoleon Hill
Sprint & Clearwire Form $14.5 Billion WiMAX Venture
Last Wednesday, Sprint Nextel (NYSE: S) president and CEO Dan Hesse announced the company’s collaborative plan with Clearwire (CLWR) to build a wireless high-speed Internet network based on the emerging WiMAX technology with initial investments of $14.5 Billion.
Comcast Corp, Time Warner Cable Inc, Intel Corp, Google Inc. and cable operator Bright House Networks are expected to kick in $3.2 billion to help finance the venture. The deal will provide much needed funding for Sprint and Clearwire and will allow cable providers to offer wireless services and compete more effectively with rivals AT&T and Verizon Communications.
As of late, AT&T and Verizon have been chipping away at cable companies’ market share by offering affordable and convenient television, Internet, phone and wireless service bundles. WiMAX is a new technology with tremendous promise that is capable of providing broadband connection to wireless devi
ces anywhere.
Intel Corp. has been an enormous proponent of WiMAX for years. The company sees the new technology as a catalyst to future growth and has already begun imbedding WiMAX chips in Centrino-based laptops and other mobile devices. Looking into the future, Intel foresees just about every electronic device having a WiMAX chip, from digital cameras to game consoles.
Already, there are flash memory cards for cameras that have Wi-Fi capabilities built in so that the user can upload pictures to a web site or social network without ever connecting to a computer.
check it out: http://www.eye.fi/
The implications on the businesses of leading chip manufacturers will be extremely positive If SprintNextel and Clearwire can make good on their plans to deploy the network throughout the country’s top 100 cities, reaching between 120M and 140M subscribers by the end of 2010. Therefore, Intel - the worlds largest chip manufacturer - believes that investing in this new age technology will only benefit their chip sales over the upcoming years. The company is shelling out a reported $1B for the Clearwire venture.
With the potential to help the world access the web from virtually anywhere, we strongly feel that WIMAX and the Clearwire venture could soon drive the next wave in telecommunications industry progression. SprintNextel better hope so. The company recently reported a first quarter loss of $505M or $.18 per share versus $211M or $.07 per share during Q1 ‘07.
Intel Corp. Press Release:
http://www.intel.com/pressroom/archive/releases/20080507corp_a.htm?iid=pr1_releasepri_20080507ra
WiMAX Homepage:
http://www.wimaxforum.org/home/
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Your trading progress can be easily tracked. In fact, it is black and white, right in front of you all the time. As tempting as it is to track every trade, like balancing a checkbook, it will work against your long term goal of unemotional, decisive, and successful trading.
Think macro, not micro.
One of the biggest challenges we face as traders is the reining of our emotions in times of decision. Trading is a statistics game and emotional trading is far from logical and almost always costly. That being said, evaluating your progress is, naturally, going to generate some emotions.
Let me give you an example. You think you are doing pretty well. You have made 5 trades so far in the day and each one turned out in your favor. Just to give yourself a big ole pat on the back, you decide to tally up the day. So what if it is only 3 hours into the trading day, you may have made enough to sit back the rest of the day and relax. So against your better judgment (and our staunch advice) you tally up your trading profits.
Scenario #1 – You did great. You made even more than you thought you did. Logically, you know that you should continue using your system and be even more disciplined because it has done so well for you. But you are feeling good! Endorphins are surging in your blood and you start thinking you are darn good at this trading stuff. So on your next trade, you take a little more risk that you might have normally because it feels right. You get a little careless. You see it in every movie. Pride cometh before a fall.
Can you see where we are going with this?
Scenario #2 – You didn’t do as well as you thought you did. It seemed like the day was productive but when looking back your profits were mediocre. Not bad, but not that great either. “Hmmm,” you think, “I have time to make up for this mediocre morning.” After all, you want to hit that daily goal and at this conservative rate, you may not. You let loose the reins just enough to squeak in an extra trade or two – so what if they are not ideal circumstances.
Can you see where we are going with this?
Bottom line is, tallying up your progress is something best done when your results will not affect that way you trade. If you have a system that works 70% of the time (more if you are in our chat rooms), you will end up ahead no matter when you tally up. Preferably, you should sit down and graph out your progress at the end of each month but we know how much restraint and patience that requires. If you must, tally up weekly on Friday afternoon AFTER YOUR TRADING DAY IS OVER!
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