Jim and ALL: A reminder. While AOL was near its last gasp last year at 66 going on to 70, Alex Brown analyst came out to say that AOL had a $100 take-out value. But now, after bouncing 150% in a few months from 22 3/8, Cowen set their target at 60-65. I closed out my long calls & short puts on Friday at 54 and some because the history seemed to be repeating itself and I wanted to make another call. When those analysts come out and make such comments, you want be careful. Sorry if I posted anything confusing, but my action was justified based on Friday's late afternoon trading pattern before ~3:00pm. And afterwards, I was happy to see it retracing quickly from above 54+ to 52 3/4. But I was then also surprised by the exact close price of 53 5/8 (last trade at 4:46pm), about 3/4-7/8 up from the earlier dip, and about 1/2 up from the 4:00-4:03pm data, which made me wonder how determined Cowen and its other AOL gangs were to get it even higher (unless those runup was from short-covering). As I said, Cowen bought large blocks one day and reiterate strong buy the next day. While such things are bad, they'd only matter when AOL stock plunges and ambulance chasers come in to haunt them. Nobody seems to care just yet. I did see the demand being weak (low volume), but with so many shorts out there you can't guarantee that all are a strong hand, and just by Cowen etc. playing some psycho games, they can make it go higher. They know how to make a price self generating, and that's where the crack is.
Anyways, you all are welcome to e-mail me or do it at this forum as proper for further communication. |
