America On-Line: will it survive ...? Message Board

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Technology Stocks : America On-Line: will it survive ...?

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To: Robert Giambrone who wrote (4051)	7/18/1997 2:10:00 PM
From: CLAUDE JOHNSON	of 13594

AOL HITS A LOW SO FAR OF 64 7/16. NOW TRADING @ 64 15/16. I Think they will try and keep her around the 65 strike until they weed out all of those July 65's that are out there (like me before I sold them today at a loss for 11/16 !!!) I'm still thinking SHORT THE SUCKER! I haven't put in stops on my Aug 70's or Aug 65's. Both show me a tremendous profit. I got lucky with the 65's when I bought the straddle and legged out of the calls almost at the top for a big profit such that the puts are for free. Also got lucky with the 70's as I got out of the Jan 90 calls' that I sold to get the 70's for what is now slightly below $2. I will be putting in stops when AOL goes below 63 on Monday. I can;t see protecting the gains on a day like today though ... although this may prove to be a very foolish statement!!! I already got burned yesterday on taking big profits on IBM Aug 100 calls (Bought @ $2 got stopped @ $5.50 ... )

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