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Technology Stocks : America On-Line: will it survive ...?
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To: craig who wrote (5310)10/28/1997 12:33:00 PM
From: IKM  Read Replies (1) of 13594
 
Bull trap - corrections don't end this easily. This afternoon should be interesting. I'm sitting tight on my puts, I couldn't have sold them this morning even if I wanted to, as I couldn't maintain a connection to my broker or get through via phone. Still difficult, but volumes on the market have declined. Institutions shot their wad at somebody's behest, now will the retail broker bet on the recovery continuing or choose to sell and sit out?

Personal opinion - orchestrated manipulation, a la the '87 crash. Before the open, my broker told me that there was a crush of sell orders. A number of high visibility stocks delayed their open, including AOL, no retail investor could get a real-time quote, and then, at least for AOL, there was a period in which the bid was higher than the ask while it ran up. Let's see if it runs out of steam. It ain't over yet.
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