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

AMZN 233.22

+1.8%

Nov 28 9:30 AM EST

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To: Rob S. who wrote (61800)	6/11/1999 11:46:00 AM
From: Rob S.	Read Replies (2) of 164684

A sign that the sector has hit bottom and is preparing for a rally: The really crappy news that CMGI has bombed their earnings expectations with more red ink and eBay can't keep the squirrels in their cage has not caused the Internut sector to plummet. I think this news would have been a disaster a few days ago but now a lot of sellers have cleared out and short-sellers are satiated. We are still in the middle of the pre-announce period prior to earnings announcements but the sector appears resilient to hold this range for the next week or so. Then I expect, and the TA tends to confirm, that we will see a rally in the sector. It won't be a return to previous glory, but a 15%-25% pop before summer doldrums return, IMO.

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