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Technology Stocks : America On-Line (AOL)
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To: Chuzzlewit who wrote (4746)2/9/1999 6:44:00 PM
From: RocketMan  Read Replies (1) of 41369
 
Chuzz, I agree. My post was not directed at you, it was a half-facetious statement reflecting how the market has been behaving in the face of great economic numbers. At least last summer we had the Asian flu still being absorbed. This correction is strange in that it is happening in a vacuum of bad news, and the only thing they try to pin it on is "high valuations" and some minute increases in interest rates.

I think you are right about the momentum investors being out for the time being. But for better or worse they will be back, and this entire roller coaster ride might start all over again. Also, the money flows last week were strongly into money market funds, so there is a lot of cash being parked. I wonder if we will break down into the 2000 territory -- doubt it, but who knows. I can't see another bear market so soon after the last one, so I suspect that we might bottom out in the next few days, and then the talking heads will have to come up with some reason why the market has turned positive again.
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