Two years ago in NJ I would have agreed with your assessment. However, they have been popping up cell towers as needed. From their coverage maps, they are on par with Verizon and AT&T and ahead of Voicestream and Nextel.
Futures now at 906.5 Is more ST downside possible or quick rally tomorrow when everyone returns from vacation. I can't imagine that even ST buying opportunity will not appear or shorts should be able to rule without challenge for several weeks. I don't think street wants that type of impression from the getgo for SEP.
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