America On-Line: will it survive ...? Message Board

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Technology Stocks : America On-Line: will it survive ...?

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To: Hawk who wrote (9109)	3/30/1998 2:21:00 PM
From: Bob Kimball	Read Replies (1) of 13594

Hawk, I find calling timeframes a lot harder than price ranges. Only an educated guess, and a rough one at that, that the entire retracement should take on the order of 12 months from top. Even with this rough timeframe, it is possible that the retracement legs will be uneven in price or time... I would recommend just watching carefully for price behavior around support levels as the decline unfolds. 56 will be the first real key level if we do enter a major, sustained correction. I think we have either made top or will see it very very soon. My first call at 64 was early and just turned out to be a congestion level. 72 will be an extraordinarily powerful resistance level. I am cautiously betting we won't see a close above it. A down close today will add a bit of confidence. These are just my opinions!

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