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Technology Stocks : America On-Line: will it survive ...?
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To: Dom B. who wrote (4316)8/10/1997 12:37:00 PM
From: David Spruiell   of 13594
 
Dom, I give respect to the longs. AOL did hang in there better than I predicted. In fact very strong compared to the down dow day. The next question is ........Monday. I think that the market will continue the down slope(it's not through yet) and pull AOL along. The idea is that just as you agree, not many people want the risk of buying above 70. I ask myself before shorting, is it going up? AOL------NAUGH.
As for the reiterated upgrades, these are desperate analyst who say buy it, and then tell their traiders to get out when the price goes up on their reiterration and then go short at the higher price. It turns a loss into a double gain for the firm. Who would fire an analyst who makes money for the firm? Unfair I cry, but they don't hear because they are gone to Hawaii.
What is VBG?
Prediction Monday 67. Friday 65
Best luck
David
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