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Technology Stocks : America On-Line: will it survive ...? -- Ignore unavailable to you. Want to Upgrade?

To: Alec Epting who wrote (5847)	11/12/1997 1:26:00 PM
From: IKM	Read Replies (2) \| Respond to of 13594

My scenario is that we are only in the beginning of a correction. Once I close out this short-term hedge with Nov AOL puts, I'll be looking for a longer-term hedge. An outright short sale of AOL may be my instrument of choice. Threats aren't the concern. Actions forced by events are. The liquidity crisis in Asia is real, and spreading. The only recent example of what happens with deflation is Japan. I'm sure this is weighing heavily on the Fed's decision. As resolute as they are in staunching inflation, they also want to keep a measure of liquidity in the economy. This is a different rock and hard place than the governors have faced before.