Marvin, I would question anyone who says, at this point, that AOL is due for a further correction, be it for technical reasons or otherwise. I'm not saying it won't happen, I'm simply saying the possibility exists that we could just as easily go the other way.
What would your "very knowledgeable broker at a major securities company" say if, within the next two weeks, AOL announced that the Wal-Mart and Circuit City rollouts were in progress and were reaping benefits, that an alliance with GM had been concluded, that a broadband deal with AT&T had been structured, and that earnings (particularly from e-commerce) would be blow-out? Is it too far fetched for these things to happen within the next two weeks?
This company has a habit of making strategic announcements at strategic times. Any downward pressure due to technical reasons could turn on a dime. This stock could move 15 to 20 points in a heartbeat.
But, you're right, the chart doesn't look great, I will concede that much.
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