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Technology Stocks : AMERica on-Line, Another over valued company?
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To: Doug Lakin who wrote (80)5/12/1996 9:14:00 PM
From: Frank Chen   of 222
 
Program trading,

You're right. I was sitting in front of the screen and looking at the intraday charts of AMER. Large blocks of AMER were sold every time the stock was trying to go up or stabilize. The trigger seems to be around 58-59. I just checked in and read Jeff Olson's comments in this thread. His insight on the downward potential is quite right.

However, I noticed that the selling kind of stalled on Fri., after a two day 17% drop, then resumed in the last 30 min of trading. Looks like someone is waiting the stock to pick up again next week, then sell it.

Frank
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