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Technology Stocks : America On-Line: will it survive ...?
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To: chenys who wrote (3149)5/17/1997 2:59:00 PM
From: James F. Hopkins   of 13594
 
HI Chen: I'm in a holding pattern, AOL is showing signs of lack
of interest..if the shorts close out she will fall, for the longest
time I'v said the shorts are what is supporting her price..they do
this by picking up a few more shares with their profits
each time they cover the short position..the next time they short
her they sell the accumulation and then sell short..so follow this.." when they cover the short position they also buy extra..this maintains an overall uptrend and allows the game to continue..but as interest drops off and buyers dry up..the buying of extra starts to look risky to them , keep your eye on the long
term call IO..it was bought cheap..and is the cover they use
to short..if it gets closed out..they will then sell off the
accumulation, and go else were and the stock will tank, big
time.."just after you see WANAZ do a large close out"..it will
happen fast when it does.."with one exception..if you see it close
be sure another one does not open..as if it just closes for them
to roll into another position that does not mean they are walking,
right now the insiders are heavy into WANAZ..and Wanay and these
are primary cover for short selling. As long as they are in place
don't count on a big drop, just the normal 15 to 20% roll with
a slight bias to cause her to uptrend..she is being manipulated
at what point they will walk away I don't know, but I know what
to keep my eye on..that does not mean I'l see it I missed her
peak last week..not because I didn't have it called..but because
I was looking elsewhere when it happened..and I'm still ticked at
myself for that..sometimes I just don't have time to check on her
and she hits the targets and reverses before I happen to look..
so again keep an "eye on WANAZ & WANAY" in case I'm not watching
and e-mail me if any big changes happend to them.
Keep in mind calls cover your rear for short selling, and its
much cheaper to hold an in the money call, and short sell aginst
it than it is to hop in and out of call/put positions..you can
use it over and over..you avoid the big spread percentage wise
that options carry..as well as the commisions on options are
much higher than on trading the stock. Some people say they can't
get AOL to short, I don't know if I belive this..they need another
broker if that's the case.
Jim

Jim
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