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Technology Stocks : America On-Line: will it survive ...?
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To: L.B.Nguyen who wrote (4063)7/20/1997 2:09:00 AM
From: CLAUDE JOHNSON   of 13594
 
Thanks for all of your reads this weekend, please keep them coming if you haven't yet posted (looking for a Monday 7/21 and Friday 7/25 end of day read).

To summarize:
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Thus far I hear a consensus read that she may very well bounce back when she goes 58-60 range. (Jim cites 60 as a resistance level (although I can't see this from the last run-up) and Sam cites the resistance as it relates to the MA line now somewhere around 58+)

We've got some who will be into calls around the 60 level.

I'm even more confident about putting in those stops and tightening them down around the 60 level. The volatility of this one can lose your profits in a heart beat.

Last summary comment -- A case can be made for a "this time is different" scenario (compared to the very recent history of bouncing off the moving average). This is due to the down-grading of the stock by 3 firms already (I believe), the negative news starting to come into the marketplace showing AOL for the high flyer that it is, and the real possibility of a market correction in the near term which favors high P/E stocks declining much sharper than discounted ones. Add to this the unknown of earnings release (although the fudge can be lathered very richly on the reported numbers!), and this could smell of a BIG TANK if earnings don't surprise to the upside.

Interested in Steve's, Doug's, and other regulars comments especially, before nailing down the consensus outlook.

Please comment at will.
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