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Technology Stocks : America On-Line: will it survive ...?
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To: peacelover who wrote (8360)2/27/1998 10:06:00 PM
From: Larry J.  Read Replies (2) of 13594
 
peacelover,

FWIW, I see AOL's failure to rally with the group today as a pretty strong sign that this thing has peetered out. Couple that with the market closing at a new all time record high and the "earnings confessional" season beginning (w VLSI). Add to that the asian financial crisis which will begin to show its impact in the March quarterly results. I would rather risk AOL running a little further rather than to give up 10 points to confirm that the trend has reversed.

I added YHOO today short at $73. I can't think of a better way to hedge my (long) positions than to short these ridiculously overvalued stocks.

Larry
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