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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 229.55+0.2%3:59 PM EST
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To: Sam Citron who wrote (65723)6/30/1999 7:10:00 PM
From: Rob S.  Read Replies (1) of 164684
 
Oh come on . . . KIS is fun to have around to poke fun at. One of these days he will be right - everyone guesses right sooner or latter.

It's not necessary to read his posts, believe him or agree with him.
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Amazon has been building a strong base over the past several days. It double bottomed higher and the accumulation v. distribution indicators solidly reversed the negative trend prior to the initial bottom around 95. A nicely bullish chart pattern is now emerging although the mood of investors remains nervous as witnessed by the pull-back from the days high and substantial resistance around 135 and higher can be expected.

The fed has taken a less than feared stance - raising 1/4 point but turning to a neutral bias. Oil prices have probably stabilized and food prices probably will be stable or modestly down. Labor is the highest inflationary ingredient but is not likely to spur rapidly rising prices because of continued heavy competitive forces (including Internet created price deflation). Going forward, Greenspan (or anyone else) can't quite figure out yet what effect will be of the "comunications technologies" as an efficiency enhancer and deflation mechanism. One posible scenario will be accelerated rapid growth due to robust acceptance of these technologies and their stimulation of trade followed by a collapse of pricing. I think that collapse scenario is possible but it is not likely for at lest a few years, IMO.
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