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Technology Stocks : America On-Line: will it survive ...?
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To: John Howell who wrote (915)12/31/1996 8:44:00 PM
From: John Wu   of 13594
 
John,

I agree with you completely regarding AOL's business prospects and
have shorted the stock profitably a few times. I am currently short
on AOL at 35 3/4 (should have waited to short at 44).

I've followed this stock closely for 6 months and have noticed
that some people either love or hate this company. I made the
mistake of hating this company in the past and have missed out
on several rallies (i.e., the run up from 25 to 35 on the move
to the NYSE and the recent run up from 26 to 44 on the pricing
plan.). I will close out my short position in AOL soon (hopefully
at 25). When it hits 25 and stabilizes, I will go long and ride
the stock up on the next wave of hype/bs/momentum. In the past,
when AOL was down either (1) Steve Case,the CEO, made some
announcement that boosted the stock for a few days, or (2) the
institutions that own most of outstanding AOL stock started a
short squeeze. This will happen again.

I like AOL stock as a short term trade (either long at 25 or short
at 40). I wouldn't keep it as a long term investment, though.

I thought AOL was a volatile stock until I shorted some of the y2k
stocks (i.e., year 2000 stocks; software fixes for recognizing 1/1/00
as January 1, 2000 rather than 1900). What a ride! If you haven't
heard about what happened, check out the ZITL, ACLY, or TSRI threads
under the Software section in StockTalk. These stocks still have
a few days of volatility left in them and fortunes can still be made
or lost. These stocks are a short term trader's dream. Be careful
though. Don't touch these stocks unless you can stomach 10 to 20
point daily price swings and can watch the stocks every minute (you
could lose a fortune in the time it takes to pee).

JW
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