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

To: RocketMan who wrote (14491)	5/3/1999 5:56:00 PM
From: John Carpenter	Read Replies (2) \| Respond to of 41369

I think Fidelity Magellan realized almost two months ago that world economic growth was on the mend and that on a relative valuation basis, growth could now be had more cheaply in the cyclical stocks. Fidelity's sale of some of its technology portfolio, including some of its AOL position, led others to sell and the selling built a momentum all its own.

To: RocketMan who wrote (14491)	5/3/1999 5:57:00 PM
From: Jenne	Read Replies (2) \| Respond to of 41369

Nailed... Buffet leading the way... so whats for us tomorrow ?

To: RocketMan who wrote (14491)	5/3/1999 7:06:00 PM
From: Steeny	Read Replies (1) \| Respond to of 41369

Agreed, Rocketman, The move away from high pe to low pe is still on hopefully just short-term. I can't see these cyclicals moving up much more especially with the warnings from Deere and others. However, when I read this thread, I think someone should just rename it Lambeau field and move it to Green Bay. To the thread: 1. Interest rates will never rise and if they do, it will have no effect on the internets. The fact that commodity prices have been surging, oil through $19.00 a barrel is irrelevant. 2. Trend lines are irrelevant. Even though all stocks eventually gravitate to their long-term trend line, AOL is different and will never do this. Moving averages are especially irrelevant, because when they point down on AOL, it is merely a buying opportunity. 3. AOL will split at least 2 more times this year. It will split simply because that is what AOL does. Liquidity is irrelevant. The Sprint sale of 29 million shares is irrelevant and is good for AOL because it supplies liquidity. 4.P/E ratios are irrelevant because the internets are different. If we assume that the world has 6 billion people and that every one of them signs on to AOL and ad revenues skyrocket, We are looking at a price of about $1,000,000 a share within 5 years. 5. All dips are buying opportunities. Just buy the dip because Goldman and DLJ said so. They must be smart. Never wait for it to dip further because if you wait, you will lose the opportunity. 6. There is no competition for AOL. T, despite the fact that it's entire past history has shown it's ability to plow into and prove competetive in new markets, despite the fact that it is well situated in just about all global markets, despite the fact the government has broken it down but yet it keeps coming back, well T is no match for AOL. T probably doesn't even plan to challenge AOL in the internet arena because AOL has it all locked up. 7. The government will open up access to cable lines for AOL because AOL is, well, AOL. I am long AOL, but just like a level-headed discussion of ideas. Don't mean to offend anyone. Yes, the stock will rise and yes this is a temporary correction, but there might be an even better buying opprtuniy in a couple of days. Blasphemy, I know.