Ahhh another bear on internet stocks. As Mr. Burns would say while tapping his fingers together "exxxxcceeeellent!"
Has anyone gone back to read this thread from a couple years ago? Check some of these out:
With AOL @17-18:(Oct 5, 1996)
"AOL is indeed doomed, it will not survive. Their stock stands on the shoulders of public ignorance. When they become enlightened over the next few weeks and months you can say farewell to AOL..."
15-20% higher in only 2 months---
With AOL @20-22:(Dec 4, 1996)
'In the name of Short Sellers Everywhere...
"Keep the Faith" '
50% higher 6 months later---
With AOL at 30 (or 60 post-split): (July 9, 1997)
"
TO ALL-
I HAVE SHORTED AT 50,60 AND MOST RECENTLY AT 62 1/2....AND I AM
NOT WORRIED ABOUT IT BECAUSE WHEN THIS MARKET CORRECTS
ITSELF,AOL WILL BE DUMPED IN LARGE VOLUMES.THERE IS LITTLE
VALUE IN THE STOCK.IT IS CLEARLY BEING MANIPULATED AND WHEN
THE TIDE TURNS...I HOPE YOUR A__ES ARE COVERED.LOOKING TO
SHORT AGAIN"
(Geez, as the old golfer from Caddy Shack would say 'that's a peach, hon')
25% higher still (4 months later)---
With AOL at 40 (80 post-split): (Nov 4, 1997)
"It looks like AOL is struggling and failing to get over 80 again. Pant...pant...puff...puff. It's all downhill from here."
30% higher (3 months later)---
With AOL at 55 (110 post split):(Feb 15, 1998)
"There was another article about AOL in Barrons, if I recall correctly. Somewhat more positive. I must confess, I hope AOL shoots up to 150 Tuesday -- so I can short it at the highest possible price. I'm still angry at my brokerage house for being unable to secure the shares for me to short at 117. Hoping to get another chance, but not holding my breath. Good luck to the longs in locking in fantastic profits (don't look a gift horse in the mouth). And to the shorts whose day (I tend to think) is about to come shortly."
100% higher (6 months later)---
With AOL at 111 (222 post split):(Aug 7, 1998)
"Face it. The spell has been broken. Talk about subscriber multiples all you want - that is not any way to value a company. No one really has any idea how long this growth can last. And people are finally starting to do math again. $35 is my generous target... mark my words."
Anyone else see a pattern here?
Would you please explain why THIS time the bears are finally right?
Personally, I love the bears! They keep getting short-squeezed causing the stock to ramp much harder than it normally would! AOL longs need bears to keep betting the farm on the short side to insure an early retirement for the longs.
Bottom line? What makes the situation soooo much different today vs the past two years? |
