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Technology Stocks : America On-Line: will it survive ...?
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To: H James Morris who wrote (10038)5/16/1998 3:21:00 AM
From: Kerry Phineas  Read Replies (2) of 13594
 
HJM, most of the old school bears covered and are now gone. There are a number of new bulls who are pretty sheep-like. Call it how you will; there's no telling how high it will end up going, but when it does come down it'll come down hard. There have definitely been fundamental improvements at AOL, but 1. not enough to justify this rise, 2. AOL will come down if and when the other internet stocks come down and they are much more overvalued/overextended than AOL , 3. if there is significant market weakness overall AOL is going to feel it. What I don't think we're going to get is some very bad news about AOL or one of the other internet stocks, but I don't think we need that in order for the stock to come down. etc.
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