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Technology Stocks : America On-Line (AOL)

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To: Jeff Sutton who wrote (14463)5/3/1999 4:39:00 PM
From: Steeny  Read Replies (2) of 41369
 
a Little ta:
Very negative, obviously. The price is under 10, 20, & 30 day ma. MACD pointing down. Also, the 5 & 10 day ma now looking negative. The 50 day ma, around 125 should hold some support. 125 is also the lower end of the wedge we are in. If 125 holds, we should head back to 155 or so(top of our current wedge). I hope this is what happens. 125 should be a real battle.

If 125 breaks, we are headed to 115 for a test of the trend line. If that fails, the mkt is vulnerable down to around 92 or so. I hope not, but not feeling optimistic. I am surprised the funds didn't buy on the news that AOL gave up on UMG. This rotation from high p/e to low p/e looking more and more real.
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