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Technology Stocks : America On-Line (AOL)
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To: Jeffry K. Smith who wrote (16565)5/11/1999 11:20:00 AM
From: Steeny  Read Replies (1) of 41369
 
To be honest, I can't. However, on the way down the 140s were a major support level. Eventuallly, the sellers just overwhelmed the buyers. Shorters tend to move when a major support level breaks. My guess is that there were many sell-stops placed around 139. A squeeze really comes when those shorts begin to go underwater. many of them might cover today. However a real shorter who feels this is just a headfake rally, will hold. My guess is the pain will be too great around 145-150. I also fell this level will prove resistance on the way up.
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