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Technology Stocks : America On-Line (AOL)
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To: Lee Martin who wrote (14976)5/5/1999 4:34:00 PM
From: Steeny  Read Replies (1) of 41369
 
I basically agree with your analysis, Lee. The only point I might fluctuate is that valuations are so arbitrary. The funds are looking for a way to value the internets. Most fund managers feel that P/Es at 6 times major computer companies is out of whack. Many have argued that computer companies such as Dell will benefit just as much from the internet as the ISPs. It is their perception that is important. If you believe that we are going through a valuations revolution powered by the internet, then we should all be very long the internet.

I believe we saw the bottom today. The 50 day MA held. The trend line held. I am not sure we will power back to 175 as quickly as before.
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