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

To: Jerry Miller who wrote (9848)	4/7/1999 3:04:00 PM
From: Philip Williams	Read Replies (5) \| Respond to of 41369

Today's endgame should be interesting. We close up for the day. Here's Cramer's take: Boring Day? No Way! By James J. Cramer 4/7/99 2:15 PM ET Could it be? A boring day? One that doesn't have breathtaking moves? One that can be covered effectively by the overnight hard copies that get thrown on your driveway? I don't think so. We are looking for a wild last half-hour as shorts cover, longs take profits and people generally freak out ahead of the Dell (DELL:Nasdaq) meeting and the Yahoo! (YHOO:Nasdaq) quarter. What makes me think this could occur? History. I have cast this as a struggle between the bulls and the bears for a reason. There is so much money bet against the Net, so many members of the intelligentsia pooh-poohing and comparing it to the other manias, that you have drawn a very large group of people who would profit from a big DOT decline. These shorts, however, are not inured to pain. They know that there are moments where the ice water in the veins gets transfused for mere platelets and those platelets react poorly to megalosses. So the shorts tend to not want to be in for the exact moment of pain. They like to cover right before a big event. Meanwhile, a whole other group of longs would rather just take profits than be in to do the homework of the Yahoo! call and the ferretting of the Yahoo! whisper. The combination of the two, plus sightseers, makes for a bit of a reenactment of Tarawa! We know who won the war, but that doesn't mean we have to be on the island when it happens. Me, I picked Yahoo! along with AOL (AOL:NYSE) as the ones I will own through thick and thin. I am in the battleship overlooking the island, I guess you could say. I will go in only if the offense gets in trouble and needs more ammo. In English, I am a buyer below 205.