America On-Line (AOL) Message Board

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Technology Stocks : America On-Line (AOL)

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To: Rascal who wrote (23482)	6/21/1999 6:25:00 PM
From: RocketMan	Read Replies (4) of 41369

how we went from 175 to 90 (with no bad news, great earnings, etc.) in just a few torturous weeks. 1. Fidelity unloaded. 2. Other funds and individuals bought. 3. Fidelity unloaded some more. 4. Other money managers unloaded. 5. Analysts got on the bandwagon, wanting to look right. They made up fear about inflation to look like analysts. 6. Little guys got margin calls. 7. Selling snowballed and shorters jumped on. 8. Analysts called for another 20% down, so funds started buying at 10%. 9. Numbers came out, no inflation. 10. Analysts turned around except for Meeker who got caught with her panties down. 11. Shorts started covering. 12. True longs didn't care, they just saw all of this as comedy. JMHO

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