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

To: Vendit™ who wrote (11542)	4/19/1999 5:38:00 PM
From: GalSal	Read Replies (4) \| Respond to of 41369

How do you recognize a bottom?

To: Vendit™ who wrote (11542)	4/19/1999 5:47:00 PM
From: Joe S Pack	Read Replies (1) \| Respond to of 41369

Being faithful AOLite I bought 100 more shares of AOL today at 119. I also sold LEAP 100 Year 2000 puts at 21+. If they assign my cost basis will be 79+ which I am more than willing to get. I think this selling will continue some more tomorrow and may start recovering in evening. But my best bet is Wednesday. By then so many hands would have been burned. I will know whether I have margin calls or not by tomorrow. But will sell covered calls to break on margin. All these panic I anticipated next week but I am wrong by one week. I bought some LEAPs last week which are in deep hole. But we have several internet years to recover before Jan 2000. My reasoning is very simple. MM's booked profit for the last quarter and wants to buy at low price now. These valuation thing is not new. Imagine Goldman has to IPO next month and if the market is in this mood they cannot afford to go. So market will recover as fast as it took a dive today. I cannot imagine dumping money on Kodak, International Papers and Caterpillers for AOL, MSFT, CSCO or PFE. May be I am not as smart as those Pisani's and Kernans because I don't have to live on fear mongering and thrashing for living and because we as a group have a better education and analytic ability than them. -Nat