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Technology Stocks : America On-Line: will it survive ...?
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To: put2rich who wrote (3759)7/1/1997 1:08:00 PM
From: Quaddad   of 13594
 
Thanh,

On Friday of last week I bought in on AOL at 55 11/16. My TA was clearly showing an end to the current downtrend. When I bought I had set a price target for myself of $58 3/4. I happy so see that AOL has bounced AGAIN off its 50 dma and appears to be headed for that price target. I certainly didn't expect it run up this quickly and am currently planning set an exit point of $58 due to the quick run up and the approaching holiday. The charts are still showing an upward trend. So it may very well reach upper $58 area.

A word of warning about SI. It is loaded with hype. Take with a grain of salt any advice you get here, including mine. Sometimes people here are right and sometimes the aren't, but when you have someone boldly saying that this AOL dog is dead and to short it because the RSI is a little above 30, you have to wonder.

I'm not into shorts and I don't do options. I look for stocks that have been in downtrends and try to time their bottoms. AOL was one of those stocks. The sudden last minute drop on friday had me wondering what to do on monday but thankfully I hung in there and it is paying off. Just remember. You can't win them all as I found out while trying to time netscape last february. Just set your loss tolerance, stick to that, and look for your next purchase the next day.
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