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Technology Stocks : America On-Line (AOL)
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To: Sonny McWilliams who wrote (31360)9/23/1999 5:07:00 PM
From: Sonny McWilliams  Read Replies (1) of 41369
 
Frank. Bad day after you just picked up AOL again. But the meltdown in the market can be contributed to our good friend, Drew Peck, at Cowens. He is making cautious statements about Intel again. This time possible problems of Motherboard sales. Sheesh. But the prize for the best statement of the day has to go to the President of Msft, Steve Ballmer, IMO. He opined that techstocks are overvalued, including Msft. That's the way to put some better volume into the stock market Mr. Ballmer! Nothing wrong with the volume in the NAZ today! gg.

Anyhow. AOL was on its way before all this, despite the merger of Earthlink and Mindspring. At first it was conceived as a little threat to AOL. After all, they now have a combined 3 mill. users. Ouch. That should hurt. gg. But I think in the end that merger was not looked upon to be too threatening to AOL.

Technicians are screaming. The DOW theory broke its support. Ugh. Maybe the DOW does not know it yet and will give us some leeway. The S&P 500 is safe until 1260 supposedly.

I did great today. At least one of my stocks ended up in the green today. CNET. Some other gains eroded quickly in the last half hour of trading.

Try not to be too upset with AOL. Even AOL will see more downturn if the market retreats some more. Look at it this way: It did better today than Intel. The DOW theory guy, Russell, sees a long bear market coming.

Sonny
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