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Technology Stocks : America On-Line: will it survive ...?
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To: yard_man who wrote (3504)6/19/1997 4:35:00 PM
From: James F. Hopkins   of 13594
 
HI Barry; ADBE like AOL has a lot of short interest, but has also
been in up trend, unlike AOL she is not all hype and has real
money in her coffiers. She also holds large interest in a lot of
other tech companies..hell she is almost like a closed end mutual
fund .<G> I'v played her before and always keep one eye on her,
to me this downgrade news was a break..I'm watching close now as
I may want some jan98 50 calls. but want to see if she is going to
hold were she is. They gaped her down 4-1/2 points on the open..
she droped another point after that, and started back up, I got
in at 35-7/8..most of the volume is borrowed shares trading hands,
right now..I would say 90% of it..and if she holds that means 45%
of the volume you see today will have to be bought at a higher price,
now sometimes they hold the short position a few days..but when they
cover it's a mad rush..just look at the way she jumps up on the
charts..it's like bam when it happens..I have hit her for several
call shots this year. With her I been selling the calls back to soon,
this time I'm long on the stock, rare thing for me to do in the
tech sector.
Big move on her so the heck with AOL for now. I'm not getting
distracted this time till I finnish with getting calls on
ADBE..
Jim
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