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Technology Stocks : America On-Line (AOL)
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To: Sabrejet who wrote (13848)4/29/1999 1:44:00 AM
From: Lee Martin  Read Replies (3) of 41369
 
Has anyone noticed the lack of unexpected good news out of AOL lately. I say "unexpected" news because everyone did expect the great earnings and sold thinking "all the good news must be out, so time to sell". IMHO this assumption will soon be proven false.

Steve Case is always cutting deals and it's just a matter of time before the next big deal gets done. Also the last split announcement came a few days after last Q's earnings release so I'm not giving up quite yet. Please don't tell me they don't have enough shares as I know it doesn't matter since the board makes the decision to split and obtains shareholder approval for the additional shares later.

So for now everybody will run to the cyclicals which are overbought, sell and short AOL and the tech leaders which are getting oversold again. All the analysts come out and reiterate buys and nobody gives a darn. Then all of the sudden Steve pulls a rabbit out of the hat and releases more good news, the stock is oversold, the analysts say "see I told you so", the shorts cover, and up we go. God bless those traders dumb enough to short this stock and whatever happens to convince them that shorting AOL is a good idea. We're gonna need their $$ to break out to new highs.
Regards,Lee
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