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

AMZN 234.70

-1.2%

Nov 14 9:30 AM EST

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To: Eric Wells who wrote (70098)	7/27/1999 5:49:00 PM
From: Sarmad Y. Hermiz	Read Replies (2) of 164684

>> Whatever common sense I might have had I somehow lost for a short period of time today. I attribute it to greed - I thought, "geez, I might be able to get 4 or 5 points based on the DSCM hype." Succumbing to such thoughts, as I did, is obviously a bad way to trade. << Eric, I think you'll be alright with your amzn purchase. Though it may take a while. I think I know what happened today at 2: PM. And it may relate to what GST has been saying, or maybe not this specific time. At 13:54 (Eastern) a 50k share block of yahoo sold at 139 1/4. Very close to the high of the day. Very likely it was interpreted as an Asian elephant unloading a leveraged US position. Traders who had profits to protect (remember it was 133 yesterday) sold and that started a selling stampede. Which was mercifully halted at the close. I bought 600 shares at 15:59 ($131+). So how does this relate to AMZN ? You know these are near twins. They trade in sync quite often. So on a day with no news a sell-off in YHOO is a good reason to sell amzn. If my whole capital was not tied up with eBay, I would have bought amzn at the close. But since I have a little in my IRA, I just let it go. More important to me is to evolve the model of how these stocks trade and what they react to. So if Yahoo and AMZN do not recover tomorrow, I'll have to come up with something else. Anyway the ideal scenario is AOL/AMZN/YHOO recover, while eBay continues its descent.

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