look at the 12 month chart with the moving
averages. AOL has met its 50 day average and is going to
break through it. My TA indicates at least four more
days of declines. Not as deep as today, but this
overpriced POS (piece of stock) is headed for the two digit
zone. Save your money and buy cheap. If it breaks
through the 200 day moving average, you may be able to
get it for 70.
Fidelity Fifty Goes Wired
Fidelity Fifty has
been soaring, up 30% through last week, ever since
John Muresianu took over as manager in January.
Everyone believed the portfolio had been restocked with
Internet stocks and now the proof is in.
top 10 holdings in order, as disclosed by Fidelity
last week: American Online, Amazon.com, Schlumberger
(SLB:NYSE), Microsoft (MSFT:Nasdaq), Yahoo!, @Home
(ATHM:Nasdaq), eBay (EBAY:Nasdaq), Merrill Lynch (MER:NYSE),
Sepracor (SEPR:Nasdaq) and MCI WorldCom (WCOM:Nasdaq).
The Essex High Technology fund, up 120% last
year, gained 52.8% after expenses during the first
quarter of 1999. The Permal Media and Communications
fund, up 72% last year, advanced 32.6% after expenses
in the first three months of this year.
McNay also shies away from detailed conversation about
the Internet stocks in his portfolios, but public
filings for the end of 1998 are a good indication of
Essex's core Web holdings. CMGI (CMGI:Nasdaq) was by far
the firm's largest single holding, worth $489 million
at year-end. Amazon.com (AMZN:Nasdaq) and America
Online (AOL:NYSE) were second and third.
PABN is about to soar. Up 97% yesterday. Up
1,800% in a week. Its still only 18.5 cents per
1) Just click on the following
2) Then select the second PABN - PanAmerican
Buy 20,000 shares for under $5,000.
We'll see. Personally, I am
no longer long nor short AOL. I was long AOL after
it recently split, and got in at 90 bucks, and sold
at 165. I then was short AOL from 153 and covered
yesterday at 125. So, since I no longer have a position in
the stock, I am not biased or pumping
The futures are continuing their climb as I type
this message. Based on this, AOL will open at 120 or
over. As I said, I wouldn't be surprised to see it
pullback on immediate profit taking, but AOL will close
up. Come back later; we'll see who's right.