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

AMZN 232.88

-0.8%

3:59 PM EST

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To: Bazmataz who wrote (88431)	12/23/1999 7:42:00 PM
From: brad greene	Read Replies (2) of 164684

Bazmataz, I think AMZN is in a poor area..... of an overpriced sector...... of a market due for a nasty correction. The trend lines have been broken on good volume...... I think it gets worse. I think net players really want to be out of big cap E-Tailers....and that you will see selling on any "less than expected losses"....or even table pounding by analysts....(see Micron today) The same momentum that took AMZN to nosebleed valuation.....will now bring it back down. Check your chart.......AMZN goes down to $40 every once in a while. I think it is headed that way......but I'm also thinking that the entire sector is due for a 30% haircut....at least. Just my opinion. I'm short and in cash until at least the 3rd week of January. Many Net players will wish to exit in January in order to defer capital gains....so it may get really ugly then. I guess I'm looking for sector rotation and reverse momentum. bg

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