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

To: RocketMan who wrote (3100)	1/22/1999 8:32:00 AM
From: Brewmeister	Respond to of 41369

Earlier today on CNBC, there was the analyst, I don't remember the company, perhaps Deutsch? that downgraded the sector last week. He claims they have some great new valuation model that says the nets are overvalued. Of course, I am sure they have a lot of history with similar stocks to back test their model (LOL). Then, Ralph (like him or not) Acampora came on and said YHOO, AMZN got ahead of themselves and had to pull back. He then said (quickly) I think AOL is OK. Brew

To: RocketMan who wrote (3100)	1/22/1999 9:38:00 AM
From: Keith Howells	Read Replies (1) \| Respond to of 41369

Rocketman, Nice to see somebody feels the same as I do during these turbulent times. I've tried playing these down markets and was successful one time out of three. I don't even bother now. I personally believe that a lot of this stuff that comes up ala Brazil and now China is somewhat relevant, but not to the extent that the market makes it and not to the extent that sources like CNBC do. I wonder how much is really a 'churn'. The guys or funds that play the market daily can't make money if everything is at a high price. They need to create a little fear to get folks to bail so they can get in at a cheaper price. When they're in, we're just as likely to see on Monday that the internet stocks are now a bargain. The bubble is burst and everything is OK. come on back and buy. And oh, by the way, Brazil and China are no big deal now. I guess I'm getting cynical. I've seen this too many times and made too many stupid decisions to let something like this bother me now. As you said, let's see where we wind up at the end of the year. I have the feeling that we'll be better off than we are today.

To: RocketMan who wrote (3100)	1/22/1999 10:41:00 AM
From: Steve Robinett	Read Replies (1) \| Respond to of 41369

Rocketman, You state, To tank, the majority of these institutions would have to decide that their analysts had made a mistake, and sell significant blocks of AOL. Ain't so. Stocks trade at the margin and frequently tank on thin volume. Indeed, yesterday on CNBC I heard their reporter on the NYSE floor comment that much of the tech stock selling that drove prices down was averaging under 1000 shares per trade, individuals not institutions. To state the obvious (the very obvious), it isn't owning a stock that moves the price, it's buying or selling it. For Internet stocks in general to go down and AOL in particular to go down, you say, Furthermore, investors must lose faith in the future of the internet. It seems to me it happens the other way around. A stock goes up, everybody gets positive on its prospects. It goes down and ex post facto people find reasons to justify the downdraft. And that's especially true with stock as difficult to value as Internet stocks. Best, --Steve