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

To: EJ who wrote (1530)	1/5/1999 5:03:00 PM
From: May Lee	Read Replies (1) \| Respond to of 41369

I am not a seasoned investor. Therefore I don't know very much of the working of the inside of Wall Street. However, I do think the pricing of AOL this week has something to do with specialist manipulation. The reason is that I saw an article on the Bloomberg top ten news yesterday regarding last Thursday's trading of AOL. It seemed to be that the specialists were very much overwhelmed by the buying right around or after the closing. They had to "sell short" to get the shares to sell to the INDEX FUNDS to meet demands. There were a lot of complaints by the institutions that the specialists did not maintain the market in a orderly fashion. My thinking is that since the specialists were having to "sell short" on last Thursday, it must be to their advantage to have the AOL price held low this week, so that they can cover their shorts. How they can hold the price low, I don't know. But this is just my guess as to why AOL is like dead right now. Of course, there might be other factors such as small investor selling after Dec. 31, to push the capital gain tax into 1999.