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Technology Stocks : America On-Line: will it survive ...?
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To: Stephen who wrote (9101)3/29/1998 8:30:00 PM
From: Bob Kimball  Read Replies (2) of 13594
 
Stephen... good points about the news environment... you could be right. My parallels between AMAT and AOL show up when you look at longer term, say 3+ yrs weekly charts.

Big runups past old peaks, topping around a split. Final tops about 2x the first. The weekly chart is pretty clear though that we are in a wave 5 and that the 4th wave bottom was 56. If we only retrace the current fifth wave, I'd look for 56, although a first bounce in the 63-4 range looks probable. However, I think we'll retrace the whole move from 11 1/4. This will take considerable patience; AOL won't retrace as fast or as far as it did in '96 this time around. JMHO!
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