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Technology Stocks : America On-Line (AOL)

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To: Robert Rose who wrote (18166)5/24/1999 1:05:00 PM
From: Steeny  Read Replies (1) of 41369
 
We are right now at critical levels for AOL. This is the longterm trendline(about 121). If we CLOSE sharply below, 118 something like that, I will dump all. It would be a major break down. However, 120 looks tough. This is a good entry point. Just keep stops at around 118. Although the peaks have been getting lower, trendline continues to hold. Fundamentally, AOL is as strong as ever. However, on a PE basis, it is vulnerable to loss of valuation. PEs are so arbitrary that funds looking for value could really kill us.

I am cautiously optimistic. I am not doing anything here. If I had to do something, I'd go long. STOP at 118.

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