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Technology Stocks : America On-Line (AOL) -- Ignore unavailable to you. Want to Upgrade?

To: Frank Ellis Morris who wrote (21662)	6/13/1999 11:38:00 AM
From: Steve	Read Replies (2) \| Respond to of 41369

Where am I figuring wrong here? Let's do the math in realistic terms : Stock is at ~$99 Estimates for Year June 1999 are .30(low end)-.45(high end) Even if you gave this stock a P/E multiple of 100 (which is very high in this present jittery interest rate environment), the stock is worth between $30-45 maximum, on present earnings. Worse off, if you say the P/E should be 50, the fair value is $15-23/share. Taking into account the interest rate environment and competition coming online from various areas, I can't see stomaching this risk/reward ratio any longer. I sold 2000 shares at 150 (that I bot at 50)........and I have a stop loss order in at 97 to sell my last lot that I bot at 90 and 105. I think this stock could drop to 60 or so at which point I would be a buyer. Just one man's opinion!