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Technology Stocks : America On-Line (AOL)
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To: C Nelson Reilly who wrote (28604)8/5/1999 6:08:00 PM
From: Dr. David Gleitman  Read Replies (2) of 41369
 
Forget the Y2K problem. I think we have a problem here called the month of August which will be later followed by the month of October. These months contribute to a negative market sentiment. Been there, seen that. At the one-way getting around this is like everybody all agree and remove the month of August and October from their calendars. Starting tomorrow, it will now be September 1st and market can resume a decent rally.

I was also a bit dumb struck by the opening and the subsequent fall of AOL this morning. Realizing that in the past AOL has taken these types of falls, only to recuperate a short time later. Although this time it is not too short. All we can do at this point is either trade or hold our positions until the powers that be (those 12 gods somewhere located in Hoboken NJ wore nothing more than cigar chopping demagogues who decide which stocks will go up at which stocks will go down). You'll see soon that the analysts will soon come out screaming that AOL is extremely undervalued only after the large funds have picked up their shares. That's the way the market works.

We become a bit schizophrenic about valuation of stock. On one hand we want a stock to go down to a certain level so that we can pick it up at a bargain basement price. On the other hand, once it does go down to bargain basement prices, we abstain from purchasing them for fear of the going lower and why would anybody want to have the stock at that level. Once it goes back up, we kick ourselves saying "now why didn't I buy some or Icould have bought some at those levels".

Good luck to us all

David
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