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Technology Stocks : America On-Line: will it survive ...?
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To: yard_man who wrote (4789)9/12/1997 7:06:00 PM
From: steve lipson   of 13594
 
>Some folks rode Micron & Iomega a few years ago into the stratosphere, but couldn't muster the sense to sell and preserve their gains. Here's hoping this doesn't happen to you.

Thanks for your concern. It is a nutty world out there so it's nice to know people are looking out for me.

My rule of thumb is that if something doubles overnight, you should sell and ask questions later.

Loosely defined, I'm suspicious of anything that doubles in six months to a year (gee, can you tell I'm not an options player). Investor sentiment can change that fast, but a company's underlying value would have a hard time keeping up with that pace. AOL needed more than a year to double from my entry point, so it passes my personal, completely subjective test.

By way of comparison, MU went from 20 to 90 in 12 months. IOM quintupled in 95 and then quadrupled from that level in less than six months in 96. AOL's chart looks positively orderly next to those moves.
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