America On-Line (AOL) Message Board

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Technology Stocks : America On-Line (AOL)

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To: Steeny who wrote (13700)	4/29/1999 10:52:00 AM
From: avanti77	Read Replies (2) of 41369

Thanks for your TA, and to Vendit also. I had been long on my AOL shares until yesterday morning. What I'd like to add to the mix in this discussion is a look at the strength of the overall market. I didn't sell because I don't love AOL. Still do, and looking for a re-entry in the 120's. My biggest problem here is the DOW barreling into 11000 so soon after hitting 10000. I don't view much more upside in the short-term, and feel that once the selling starts it will occur across the board. Speaking unemotionally, that means renewed selling in the tech sector. It's for this reason I can't see a rally in the techs and internets so soon. The 138 point, one day drop in the NASDAQ last Monday was the writing on the wall for me. Felt that the rally in the past week was a sucker's rally, and used it to get myself in a large cash position. All the news is out, the money flows traditionally begin to subside at this time of the year, and some great buying opportunities could present themselves. I don't short stocks as I don't have the stomach for it, but do feel comfortable waiting for the dust to settle here.

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