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

To: Steeny who wrote (22295)	6/15/1999 9:15:00 AM
From: Robert Rose	Read Replies (2) \| Respond to of 41369

Hi Steeny. You've been posting a little less lately. I've been missing that extra input.... <There is plenty of downside to the nets even if they maintain current growth. > I did a little basic TA last night on my inet stock basket (see my profile for the exact stocks.) Of the bunch, only GNET and EXDS are significantly above their 200 ema's, and a number are significantly below. (AOL is touching it prior to this AM market open.) While I agree that the inets could and can fall further, it would appear that they would do so only for technical reasons. After all, most would argue that at least one interest rate hike is already priced into the market, so it is hard to imagine Greenspan saying or doing anything on June 17 and 29 that would justify further downward movement in the inets. Sure, interest rates are rising and could hit 6.5%, but in order for that to make a real difference, I would think that one would have to ignore arguments that the Internet is truly revolutionizing productivity. (Of course I understand that Greenspan has been speaking to that issue, so yes, many may be ignoring that fact.) So now it is prudent to be off margin (I am not), but yes, the inets must be getting pretty oversold at this point. Given so many positives in the overall economy, any continued inet rout would have to be due to technical factors alone. Thus, I still can't get too concerned over the long term. Disclaimer: I try to sell now only for fundamental reasons. Sold ebay yesterday for an 11-fold profit. Will sell etys this AM for a 35% loss. Otherwise, I see no reasons not to stand firm for now. Comments?

To: Steeny who wrote (22295)	6/15/1999 9:21:00 AM
From: ben.	Read Replies (2) \| Respond to of 41369

I don't remember the their PEs, but I recall same gloomy scenario. Research the history of GM, the evolution of TV or cell phones and you will see. I sold my AMGEN listening to such gloomy predictions. I also sold my initial purchase of AOL which I only paid about $21.00 dollars for only to buy it back at a higher price. When Etrade came out, IPO shares were offered to account users ( which I was one) but, I did not buy any because my then broker gave them only two months to go under. Did Meryll Lynch not describe the internet investing as something for idiots, and where are they today? (Internet ). Granted, the valuations on some of these companies are weird, but eventually, winners are slowly emerging. AOL, YHOO, EBAY, INKT and a few of the major players will end up being the AMGENs of this sector. Remember MSFT and DELL? Did IBM not say same about the WINDOWS OS after they turned down Bill Gates offer to sell it for under a million? The unfortunate thing is that, by the time these winners emerge, individual investors who actually grew these companies will no longer be in it. This time, I will follow both history and my mind and let the chips fall where they may. ben