After hour AOL bid-36 ask-40.
Don't do market price if you are not sure what is going to happen in the morning. I may drop 10-20 dollars intraday or may go up 6 2-3 dollars depending on how Steve Case and his high exec. brother at H&Q would do to manipulate the price. You know that H&Q is the underwriter for AOL. Also, to prove that AOL has been dictated by such brokerage support (or should I say market maker in general), just look each expiration date, more often than not there was a major movement, rally or reversal.
I once set a good till cancel on a Schwab account at 27 1/8 for IDTI thinkg that would be a support (splitted adjusted. On the morning after the earning report, while I was sleeping still the market opened
at about that price and I got it. Too bad that my set price was meant to be for a up-trend. For a breakdown stock, I got it right at the very top. I re-enter at 10 or so later to do a major average down and ended up with just a few scratches, but it took a lot of sickening days to wait for the wounds to heal, if you know what I mean.
On the other hand, if you think that it is going to end at 17, then what a hell if you enter at the market for AOL. Just make sure it doesn't open at 17, which I think would be an OK price for AOL to float around. If CSRV is in the teens, I don't see why AOL should be at such a high valuation. The internet advertisement won't be viable anytime soon.
Look, you really think people would do that extra click on an ad while they just got through a 3 minute waiting to get to the page they wanted? "Think us as a cable company!", as AOL exec's proclaimed. Sure, if you can make the internet move as fast enough. You have got to ask the Bell's to lay more fibers.
I like Thom's fairy tale. It is true, AOL hinged on a rallying stock to surive. It will never earn a penny as a cheap on-line provider.
Not a chance. |
