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Technology Stocks : America On-Line: will it survive ...?
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To: Sam who wrote (5093)10/17/1997 6:16:00 PM
From: Rocky Reid   of 13594
 
I was trying to explain to some people in the Iomega board here at SI that the Street loves AOL, and hates IOM. This insane runup in AOL share price is proof. I have no position in AOL right now, although I did make some money shorting it earlier this year when it was in the 40's, then dipped down to 34 or so. Rest assured, I will short this dog again when the time is right, but that time is definitely not now.

Almost all of the techs were taken out back and shot today, except for AOL. It actually closed Up 1/2 point to 85. What a crock. Oh well, my theory is that in the next couple of weeks, when it's in the high 90's, the Street will pull the rug out and AOL will come crashing down to the 60's or 70's in short order.

Some issues like AOL and SYQT get the benefit of a doubt from the Street. IOM has to fight tooth and nail for every $$$ advance it makes. Unfair? Yeah, it is. But if one can realize these facts, it makes it a whole lot easier to make money.
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