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Technology Stocks : America On-Line: will it survive ...?
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To: Getcher who wrote (4502)8/17/1997 12:03:00 PM
From: John Kratus   of 13594
 
Why is AOL defying gravity? Two possibilities:
1) The recent brokerage recommendations are pumping $$$ from small, individual investors into the stock. This often happens right before the big players sell. (a la Micron Technology).
2) Short traders like me are covering their positions whenever the stock dips.

In the past two weeks I have traded in and out of AOL (on the short side) three times. I went short on Aug 4 at 72 9/16 and covered on Aug 11 at 68. I shorted the next day at 68 13/16 and covered on the 14th at 65 13/16. I shorted again on Friday morning at 67 15/16.

The overall trend from AOL is clear--downward. But I don't think that it will occur in a swift, sharp drop. So it may make sense to take the small profits as they come and then short again when the stock rebounds.
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