I agree. On a technical level, AOL's stochastics and MACD look like they want to turn up, and the only thing that has kept them down is the general market. The fact that AOL held its own in spite of the market, and in spite of the interest rate edging towards 6.25% is another confirmation that we are at or near the bottom. I suspect the market will wait for the rates to hit 6.25, which would discount a 25 point rise by the Fed and then some, and we will rally as we get closer to the Fed meeting.
The rumors over the last couple of weeks have been bothersome, not only today's, but the rumor about the Excite spinoff, and the MSN free ISP. Methinks the gorillas are sending out trial balloons, and preparing the street for some major deals. IMO those might come this fall, as the Christmas season gets underway, which is the strong time for the nets. So we are seeing a lot of posturing.
I added some AOL at 85 and change, so unless something really crazy happens, I think I will have a nice Christmas :-) |
