America On-Line (AOL) Message Board

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Technology Stocks : America On-Line (AOL)

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To: Frank Ellis Morris who wrote (21532)	6/11/1999 10:12:00 PM
From: Tom Tallant	Read Replies (2) of 41369

Frank, My take on today's action is this...More than any other issue surrounding AOL or any other high P/E growth stock was the absolute absurdity in the bond market...The 30 year has not been this oversold in 17 years!!! Bond traders have a propensity to play chicken with each other...who's going to buy first kind of thing. If you think these internet stocks are momentum plays they are amateur hour compared to bond traders. When the bond finally stabilizes there will be a torrent of buying...expect 2 points in a day easily. What's more...when that day happens, and it will, you will see money rushing back into these stocks like they were the last stocks available on earth. The question is..as I said earlier today...when is the selling going to stop in the bond market? My bet is soon...if not Monday no later than Wed. If your a trader, knock yourself out...I'll stay the course until some normality returns to the market and if THEN AOL trades down...I will be concerned. Regards, Tom

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