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

To: Raymond who wrote (10584)	7/10/1998 10:30:00 PM
From: Keith A Walker	Read Replies (1) \| Respond to of 13594

Raymond, I would not call myself a Peter Lynch disciple, however, the man has made a lot more money than I have and has done things for many other people that I find to be very noble indeed. As far as my own position in AOL, I shorted 100 shares at $87.50 and have August 90 puts and Oct 65s. These positions have deteriorated badly, however, I am still holding on to them. The short position has me a little scared, but, I feel that the froth of the internet mania will shift to drugs, financials, consumer goods (with little Asia exposure), utilities and cyclicals as Wall Street and the "professional" money starts looking to be more defensive going into the third quarter. This is my reasoning, although, I also like the fact that AOL has a p/e over 300.