Bear throws in towel and considers going long.....
I mentioned recently that I closed my short. Now, I think I will go long. I hate, hate, hate AOL. They lie, cheat, and steal to make their stock price go up, but HELL, it works. As long as they continue to pay off Wall Street with juicy underwriting deals (which they will continue to do since they really don't make any money and thus must constantly get additional financing), Wall Street will continue to reward them with whatever AOL wants to hear. Rumors (e.g., the ATT "deal") will be given full credence by Wall Street and the game will continue until Case's and Pittman's seemingly insatiable greed comes to end. Yes, I think I will buy some calls tomorrow. Undoubtedly, the next move on the part of the AOL hypetrust will be another split. Want to get in before that happens. Hey, have you guys noticed that YHOO could have split several times, but hasn't? Gee, what is with those guys. They must be too busy managing the business than the stock price. Fools! |
