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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 242.61-1.5%3:59 PM EST
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To: Mark Fowler who wrote (63851)6/22/1999 4:30:00 PM
From: KeepItSimple  Read Replies (3) of 164684
 
The last 5 day rally was nothing but short covering across the board. Anemic volume.

And of course what happened 3 days ago is people jumped back in on margin, expecting to catch the freight train upwards again. But unfortunately this train is going over a cliff, and it's going to take all the newbie speculators with it.

This is the only way the mania can end- all the internut speculators MUST be wiped out. As long as they have cash, they'll keep gambling. Once they are broke, sanity will return and valuations WILL matter.

Look for a big gap down at the open across the board tomorrow morning, followed by continued selling. There will be no dead cat bounce until these stocks lose 90% of their value.

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