America On-Line (AOL) Message Board

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Technology Stocks : America On-Line (AOL)

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To: Jorge who wrote (434)	12/30/1998 11:31:00 PM
From: larry	Read Replies (2) of 41369

I trade AOL in both ways. Love the stock, dislike the company, hate its product (it sucks and I have no desire to use it anyway). However, you don't need to have the best product to dominate the market. The company might indeed have good (not unlimited) upside potential but the stock price is running ahead of itself. 99 might indeed prove to be a super exciting year for stock market gamblers (I won't call these traders investors since nearly all of them are not much different from gamblers in Vegas). It will go either way. I mean, either DOW popping toward 11 k or losing ground to 8 k by year end. If retail and Wall Street gamblers all wish to believe the valuation model presented by the internet stocks, sky is the limit and we should see issues like MSFT, CSCO spotting trailing PE between 100-150. However, if somehow everyone suddenly realizes that traditional valuation still means something, we will see a nice retreat in the market. Corporate profits won't matter that much, IMHO. It's just an excuse for sellers to lock in profits. Greed or fear will decide the direction and gains of the market. L!

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