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Technology Stocks : America On-Line: will it survive ...?
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To: yard_man who wrote (2380)3/12/1997 6:49:00 PM
From: Stingray   of 13594
 
> think some of the fund managers are well aware of how many people
> realize that there's no value here and are trying to capitalize on
> this negative sentiment

I'd be really interested in understanding what makes fund managers
tick. Squeezing the shorters would only cause a temporary blip in
the price and would only be to their advantage if they were to
liquidate quickly which would be impractical given their large
holdings. I'm not sure what the triggering event is going to be
for the large investors to jump ship. With Cisco and 3-Com it didn't
take much for the stock to get cut down to prices which were closer
to reality, AOL seems a lot more resilient to bad news, it will
probably end up being something really minor such as an analyst
downgrading earnings estimates by a cent that ends up tipping the
apple cart.

Managers of large mutual funds have hundreds of stocks to follow,
sometimes they can't see what's going on until an analyst writes
it up in language they can understand. If we ever get to a point
where there is a net outflow of cash from technology funds and they
have to come up with stocks to sell AOL would have to be near the top
of the list, the trouble is who is going to buy it from them?
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