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Technology Stocks : America On-Line (AOL)

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To: thecow who wrote (30854)9/16/1999 4:25:00 PM
From: Jenne   of 41369
 
We'll Be Ready to Roll Tomorrow
By James J. Cramer

9/16/99 3:54 PM ET


Will the person who is shorting the NDX please surrender his tie and shoelaces on the way home? The NDX today broke through the gloom that enshrouded everything earlier. Call me impressed, but it is entirely possible that people were selling NDX calls that expire at the opening tomorrow, trying to pick up a little extra premium if the NDX were closed tomorrow.

But as I work on Wall Street, I can tell you the chances of that happening are slim to none. It just ain't that bad here yet, and if I calculate the speed of this doomed 'cane -- thanks, Weather Channel -- I can tell you that by tomorrow we will be ready to roll.

The only real disappointment today is the Net. It actually had a bit of momentum at one point today, but that disappeared with the awful action in America Online (AOL:NYSE). If there is any one stock that has cut the hearts out of the animal spirits of the market, it is that one. While other Net stocks were breaking into the black, this one dallied and now it is faltering.

The stock, alas which I am long, is not its old self. But then again, I have a really keen eye for the obvious.
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