KG, I think tomorrow is important, because AOL will not recover, IMO, until the market as a whole shows strength. And tomorrow's employment numbers will be important to the overall market. Yesterday's rally coincided with the tech rally, but today it could not hold yesterday's gains with the tech selloff. The selling has been overdone, and has had nothing to do with AOL's fundamentals. The weakness in techs started back with the Compaq problems, which led to sector rotation, and individual investors are now looking for reasons to sell instead of reasons to buy. The latest reason to sell is this T deal with Comcast, which will not have any impact at all on AOL earnings for at least three years, if at all.
Will AOL hold the 50 day dma? Probably, but I don't know. This would be important to me if I was either trading AOL or into options, which I am not. Next week, next month, next year, all of this will be an anectdote, in the same way as the MSFT buyout crisis, the busy signal crisis, the October crash crisis, and yet here we are, AOL is still one of the biggest winners over the last few years. And every time, AOL has been given up for dead.
As far as the thread morons, let them come. The more they shout and vent, the closer we are to the bottom. |
