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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 226.99-1.1%3:59 PM EST
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To: Sarmad Y. Hermiz who wrote (62488)6/14/1999 7:01:00 PM
From: GST  Read Replies (1) of 164684
 
Sarmad -- this is the beginning of the drop, not the end IMO. The nets are the leaders here, but the rest of the market will soon follow. I originally called for AMZN to drop to 75 and then trade in a range from 75 to 100. That is still possible. But in the mean time we need the rest of the market to price in the new rate environment. Although it is much anticipated, the CPI has the potential to shock the market because many of those who are waiting are doing so only because they think it will clear the air by 'proving' that there is little inflation to worry about. Good luck on that approach. I held my puts today. The naz puts gained a bit and the OEX puts held steady -- there is no time premium left in them so they track the OEX which was unchanged.
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