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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 233.05

+2.9%

3:59 PM EST

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To: Michel Bera who wrote (4644)	5/22/1998 5:00:00 PM
From: Oeconomicus	of 164684

MiB, it did bounce off the 50 day a couple times including the gap up in April, but this time it did not bounce and after several days of trading right around the 50 day, today it broke significantly below. As for the volume, it increased today from recent low levels, and this on a day when the NYSE barely cleared 430 million shares. The average volume you are looking at only recently got that high with the volume spike (and failure to make a new high in spite of the volume) in April. A couple months ago, 488m shares would have been an average day, so to do that on an overall slow day shouldn't be dismissed. Consider also that AMZN get getting some serious downward revisions to forward loss estimates (that is, much bigger losses), the competition is seriously heating up, and they have loaded the balance sheet with debt in order to have any chance in the competitive battle. biz.yahoo.com (see the estimate revisions and downgrades) quote.yahoo.com (chart is thru yesterday, but you can see the 50 day) Have an enjoyable Memorial Day (observed). Bob

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