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Technology Stocks : America On-Line: will it survive ...?
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To: Keith A Walker who wrote (9761)5/5/1998 4:15:00 PM
From: Bob Kimball  Read Replies (1) of 13594
 
Keith - you hit the nail on the head.

There SHOULD BE more downside risk than upside on this tulip. The latest leg looks like it came off a commodity chart, not a stock chart. Gee, I guess AOL stock is a scarce item. That mentality, combined with plenty of money chases these beanie babies through the roof.

Well, we'll see what goes down this week. I think we've gotten close to the top for this leg, but it might not be the "real" top.

1) trends and channels line up for a top now.
2) Gann and Fibonacci fans call top now.
3) This is very near to a major anniversary date for AOL - both historic peaks and valleys in early May.
4) Ewave counts look like we're finishing a 3 instead of a 5. But this chart is pretty tough to count... have to do it somewhat by eyeball and feel.

The disconnects come from any kind of significant divergences on oscillators and momentum.

Any other thoughts for the persistent bears out there?
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