|
No, AR, I just bought some AOL and Netscape on a lark, then sold it, a few thousand dollars richer. And lived to tell the tale.<g> If you are interested in an explanation, I was just sitting there punching up quotes on-line at my web broker site, and heard on CNBC that AOL was going to be put into the S&P500. I had recently posted a chart to Burke from Barron's on internet stocks that I had to retype, so when I heard the number of shares that index funds would have to buy, I remembered that the float was not much bigger than that, and I assumed the float would be bought up, so I immediately executed a couple of buys - - Netscape is an arbitrage play on AOL. AOL ran up about 20 points. I later heard that AOL had filed something like a shelf registration to exercise and sell stock options for its employees and was planning on doing that on the day that the index funds needed to buy the shares, so I sold. There was a method to my madness, and I caught a lucky break. |
