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

To: Dustin who wrote (27921)	8/3/1999 4:44:00 PM
From: Paul Merriwether	Read Replies (1) \| Respond to of 41369

the short term retail traders don't get to have margin in i-nuts...

To: Dustin who wrote (27921)	8/3/1999 5:02:00 PM
From: Rarebird	Read Replies (1) \| Respond to of 41369

Perhaps the most important technical point that can be observed from last week and this week's pressure is in the A/D Line. It has moved below its April low and is now FAR below the panic low it made early last October, when the Dow bottomed near 7400. With yesterday's close, the Dow is still 3400 points above that, while the A/D Line is 6200 cumulative declining issues lower (according to my count). This is a VERY ominous point that should not be taken casually. It indicates that many, many stocks are already well into their bear markets while the big boys have deceptively held the averages up. PS: A Day trader can be forced to sell his position if he is trading on margin if the security he is trading long, for instance, all of a sudden tanks on unexpected news.