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Technology Stocks : America On-Line: will it survive ...?
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To: Jay8088 who wrote (11332)9/29/1998 12:53:00 PM
From: Steve Robinett  Read Replies (1) of 13594
 
Jay,
As I have mentioned before, I don't consider AOL either a good long or a good short. In either direction, there is too much risk. I do consider it a great option play and in the last two trading session (not counting today, when I'm waiting on the Fed) I've have made a couple of bucks long both calls and puts. For the time being, I think AOL has re-established its uptrend and, after a rest between, say, 110 & 120, will probably move toward something like 140. Just my guess. I do agree with you completely that valuation is outrageous but people do build castles in the sky and Internet stocks are the current castles.
Best,
--Steve
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