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Technology Stocks : America On-Line (AOL)
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To: Frank Ellis Morris who wrote (1880)1/7/1999 6:30:00 PM
From: Voltaire  Read Replies (1) of 41369
 
Hi Music Man,

Now listen gang, this is real simple.

First of all you have to understand something that I have talked about many many times on SI, CONFIRMATION. Here is what has taken place. AOL was the first Internet stock that was confirmed by Wall St. In other words the Greybeards could finally in or on a public forum recommend it. The entrance to the S&P club was the final confirmation. When that happened there was a semi-confirmation for the entire internet sector. So this semi-confirmation made all of the first tier internet stocks, AMZN,YHOO etc and then the third tier with the extremely low floats even more attractive. In other words we are in a very forgiving period. When the market was down this morning, I sold my AOL and bought back my call and bought AMZN at an average of around $136 per and absolutely kicked ass. I will be back in AOL when the forgiving period is over.

Selah,

Voltaire
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