Amazon.com, Inc. (AMZN) Message Board

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

AMZN 231.69

+1.7%

Dec 10 3:59 PM EST

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To: Glenn D. Rudolph who wrote (7659)	6/25/1998 10:22:00 PM
From: jason D.	Read Replies (2) of 164684

Glenn- Don't cut those losses yet! AMZN has yet to close above 100. I haven't read a lot of posts here, but it seems like there hasn't been much thought today as to the significance of this century barrier. Its not a coincidence the last two days that AMZN was trading at 100 even minutes before the close and just failed to close above it. One month ago AMZN could not break the 100 barrier either after multiple attempts. Of course, once it split, 50 wasn't such a big deal to break through. Todays and yesterdays volume was also quite striking. Speculative blowoff yesterday and massive distribution today. Things have never looked better for the shorts. Chart screams that a top has been made. The greater fool theory has caused this stock to skyrocket, and it is likely the greatest fools were buying today. To think today was just another day in a skyrocketing stock is a little naive. (not necessarily talking to you Glenn) Volume means something, and it is very possible that the top was today. That said, this stock does not trade on fundamentals, but rather on momentum of which it has plenty. I got my puts today at 102. If AMZN ever closes above 105, I am out and just another in the long list of bears who became victims of the Amazon juggernaut. I will get on my horse and ride dejectedly out of town. (I don't own a horse, I just said that for effect) -Jason

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