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Technology Stocks : America On-Line (AOL)
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To: Steve Robinett who wrote (3509)1/27/1999 1:32:00 PM
From: RetiredNow  Read Replies (4) of 41369
 
To everyone who tells me that AOL runs up on rumor and sells on news:

I have seen 20 or so stocks that had this pattern in the past, completely ignore this pattern this year. Anyone who is educated in finance, financial markets, fundamental analysis, and/or technical analysis is probably the one missing out on all these gains right now.

The reason why is that all of us who think rationally don't know how to incorporate this Internet craziness into our world view.

So what I have done is to throw out all my rational/conventional thinking and perform an experiment. All the Internet companies that have had nice earnings surprises have ballooned the day afterwards. This tells me that it is not the instutions who are doing this. If it were we would have see all those stocks balloon prior to earnings release (since institutions always get word of the numbers prior to the rest of us), and then a selloff after the news.

So ballooning after the news means that it is the retail investor (you and I) who are driving the price. So, due to all of the above and because I believe AOL will blow out estimates just like Amazon and Ebay, I bought today at $161.25.

I am counting on retail investors to punch this thing skyward. Even if it doesn't go up to $190, who cares? I'm already making a profit right now. Either way, I sell before the end of the week.
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