America On-Line (AOL) Message Board

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Technology Stocks : America On-Line (AOL)

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To: Robert Rose who wrote (18456)	5/25/1999 5:07:00 PM
From: Steeny	Read Replies (3) of 41369

I am bearish now. At least a further 25% decline. I don't know where the bottom is. To be bullish here, one has to accept PE ratios. Inets are no longer momentum trades, so you must be bullish for another reason. If you feel they are undervalued, then one must assume much greater growth than even AOL assumes. One cannot be bullish for technical reasons because every technical indicator points south. Stochoastics will bottom out Friday or early next week. IMHO, real damage is being done to investor sentiment. The future gains will be much slower. I would not be shocked to see a 100 pe for AOL within a year.

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