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Technology Stocks : America On-Line: will it survive ...?
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To: H James Morris who wrote (10447)6/26/1998 7:49:00 AM
From: Keith A Walker   of 13594
 
James, I did preface what I said with a comment about someone, usually a well respected pundit like Abbey Cohen, making a comment about the Internet sector being overvalued. I clearly believe that it is, but I am no Wall Street pundit.

I view blind bullishness as a sign of the good times on a stock or a market as being an indicator of the easy returns coming to an end. Usually an abrupt and ugly end, akin to a train wreck.

I was disappointed yesterday, however, the chart appears to be making a top for the moment. Man, have I ever been wrong on AOL before, but the stock price has no fundamental basis for being as high as it is. This is my point (along with all of the other bears on AOL). The bulls argue that we are only at the beginning of a huge internet future. I agree with this, however, financial realities will and must prevail for this sector.
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