Rocketeer,
You say, Today's action has nothing to do with AOL, and, of course, you're right, nothing directly to do with AOL as a company. It does have to do with AOL as a stock, especially as a Internet momentum stock. Another well-known investing mistake is applying long-term analysis to short-term trading situations. That's considered a no-no, mainly because it doesn't work. From a technical point of view, if AOL drops below 130 (its last pullback low), you could see it move down below 100, most likely the high 90's.
Best,
--Steve |
