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

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To: J.S. who wrote (4637)9/2/1997 10:34:00 AM
From: steve lipson   of 13594
 
Joe: Trying to guess how a stock will trade in the next day or week is a relatively harmless parlor game, but the posts I was referring to seemed to take this to an extreme by using the simple occasion of some down days for AOL to expound that the end of the world for this ragamuffin stock had arrived and a free fall was clearly indicated.

Whether or not you feel this stock on a fundamental basis deserves to die a flaming death, it seems fairly clear to me that you cannot honestly read free fall into a few inevitable down days at the end of a major runup. If that was a predominant trading pattern for stocks the Dow never could have made it out of the 100s and we never would have heard of Peter Lynch or Warren Buffett.
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