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Technology Stocks : America On-Line (AOL)
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To: Steeny who wrote (15336)5/6/1999 4:48:00 PM
From: RocketMan  Read Replies (1) of 41369
 
Again, I agree, except I would put the cable strategy as the biggest reason for selling yesterday morning and this morning, because AOL dropped much more than ATHM. Interest rates were probably the culprit this afternoon, with both AOL and ATHM down, along with most nets. I really don't think rotation is a big deal now, because that is what the big money does, and they had already made their easy money that way. I don't think the little guy is going to sell AOL to buy Alcoa.

In the near term, I think the cable issue will induce more small-investor selling, but not institutional because they know better. Interest rates will be the big driver, but a lot of that has already been discounted in the stock and bond markets.

JMHO
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