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Technology Stocks : AUTOHOME, Inc -- Ignore unavailable to you. Want to Upgrade?

To: tang who wrote (10587)	6/6/1999 4:47:00 PM
From: larry	Respond to of 29970

Tang, Thanks for your nice input. I sold out AOL way too early at 128, about a couple of months ago, when the issue was on its way to 175. I did short the issue several times and made the correct earning play. However, one greedy moment cost me dearly (I sold naked puts the day before option expiration in April and sold so many contracts that I took a big hit). Anyway, I think that the days of AOL trading at triple digits while announcing a meager single digit earning with a nice chunk of account receivables are gone. US economy is still in great shape, but with rate up in the corner, using any valuation model, the US market is overvalued by at least 25-40%. The best US market and AOL can hope is a long period of consolidation time. The higher it goes, the steeper it goes down later. US market has become a trader's heaven or hell in the last 2 months. It will continue to have volatile days in the next months before we meet the doomsday: Sept. till Oct. So I will only trade the most hyped nuts for earning rally, and the rest of the time, if I am willing to invest, I will go all Softie. This is the only large cap issue that I believe is slightly undervalued or correctly valued. larry