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Technology Stocks : America On-Line (AOL)
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To: Bridge Player who wrote (29056)8/10/1999 1:43:00 PM
From: Steve Robinett  Read Replies (1) of 41369
 
Bridge,
You're right about the general market, the S&P is kissing its 200 DMA and a break through it would get all the technicians chittering like monkeys on a peanut farm. Personally, I'm targeting the Sept/Oct time frame as tailor-made for a big-time sell-off, the traditional fall in the Fall with echos of 1929 & 1987 plus Y2k hysteria. I would guess we get a rally before that, however, a short-term oversold bear market rally.

As for AOL, I think it bottomed short-term in the mid-70s last Thursday and should rally up to the 90-100 range, also a bear-market rally. After all, AOL is already about 14% below its 200 DMA at about 93.75 and short-term very oversold.
Best,
--Steve
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