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Technology Stocks : America On-Line (AOL)
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To: Technician who wrote (10986)4/16/1999 4:51:00 PM
From: Technician   of 41369
 
I have been in the market for 6 years when
TECHS go out of favor on valuations basis,
they essentially loose their blessing from
big institiutional accounts, people who
bought yesterday will find out that AOL
and all other techs will give plenty of
opputunity to be bought at reasonable
prices in the next week or two and
those who are waiting for AOL to
rally hard into it's earnings and
then some, well think again, the
focus is now on bringing the
high fliers to reasonable levels.

Everyone knows that AOL will blow out
estimates but 4 or 5 such blowouts
are already discounted in the
current price and with the DOW
at 10500 we are looking toppy
here.

I changed my mind after watching
the last two days action, the
MOMENTUM is gone and won't be
back soon, however it will
enventually come back with a
vengeance.
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