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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: W. Clinton Terry who wrote (11957)	12/20/1997 4:31:00 PM
From: Judy	Read Replies (2) \| Respond to of 18056

Clinton, AOL has been in a downtrend for a few weeks, but recently is trying to turn upwards. Pivotal point is at 83-84. Light volume on selloffs to 80+ indicates that the fundies are not ready to unload yet. What level did you short, what is your downside target and what is your stop? On Friday when the market was down 150+ points, AOL was selling off on 700,000 shares of total trading volume when its average daily trading volume was 1.69M shares ... in comparison stocks like PFE and GE sold off on very heavy volume. Loud and clear, the AOL selloff was cosmetic and I promptly closed my naked calls for taco money. The blocks came roaring back and took the stock higher before the end of the day. AOL will fall, but it may not be ready yet. The holidays are here now and we are seeing a multitude of AOL promos which could prop the stock up until after the holidays. On hyped up stocks, I'd watch basic price-volume data carefully. OBV ... OBV/price divergence is useful, otherwise OBV just tracks with the obvious.