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

To: Steeny who wrote (19907)	6/3/1999 5:09:00 PM
From: Lee Martin	Read Replies (1) \| Respond to of 41369

Steeny, I think you're right. I went 200% AOL the day Greeny cut rates back in NOV. at $75, that's $37.5 now. When the CPI came out and was double what they expected I had a bad feeling it was lights out for anything with a high PE (in other words any stock that had been making us $). So I dumped all my AOL at $127, and hoped rate fears would calm down and I could get back in (at a higher price was my thinking at the time). Now to me the chart looks like a descending pennant formation that broke down and the next support looks like $90. I think someone said it was heading to $90 a month or so ago and I thought "yea right" and clicked next. I just can't believe what I'm seeing. If AOL does go to $90 where are all the other nets and techs headed? To me this looks a lot like last SEP/OCT where we grinded lower on low volume for weeks until we had the blowoff bottom on the 8th. That's the scenario I think we're in now. Do you see other possible ways to end the selling and give people a reason to buy? Thanks, Lee PS- Last Oct 8 I was fully margined in DELL and got spanked, so I know what the folks on this thread with margin calls are going through. What got me out of that mess was taking everything I had left and throwing it at AOL. Everybody though I was out of my mind at the time. I learned my lesson and this time I've got cash ready to throw at AOL again when this thing finally turns around.