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Technology Stocks : America On-Line: will it survive ...?
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To: Ron Wang who wrote (2595)4/7/1997 9:23:00 PM
From: chenys   of 13594
 
Ron: I do not believe in consistent TA or FA for AOL, but it has been a major reversal day. I shorted it big time an hour before market close last Friday and had a bad restless weekend-it could go the other way also, you know. But anyhow, I did not have chart to look at, except feeling the joke has got to end and thus pulled the trigger.

I don't think the big hands are stupid, they are palying by the rule actually. This morning as it opened lower and had never gone up, you know this would be a reversal day. And as the RSI showed a resistance (9 or 14 days-right on the trend line) you know it would be a major one. History tells us that the momentum palyers will dump tomorrow which will trigger a chain reaction.

If this is the trend it would follow, then a weekly continuation pattern for further decline may now be in place.

Hold on to shorts and take profits on longs.
Sorry for the agony, if any, in the past week. Good luck.
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