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

AMZN 244.25

-2.0%

Nov 12 3:59 PM EST

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To: GST who wrote (97751)	3/29/2000 7:22:00 PM
From: Robert Rose	Read Replies (3) of 164684

<A test of the 200dma of the AMEX internet index will take a fifty percent drop from here -- and many of these net stocks are already way off their highs.> You have to look at the actual composition of whatever index you are referring to, and then determine how closely it reflects the sector of interest. Examples: I stopped following the iix as a proxy for the internet because it's too skewed by csco. Until today, the dot was holding up a lot better than a lot of internet stocks because it includes a number of "old economy" internets (lol) like aol, amzn and ebay, and those tired dogs were finally perking up a bit. I like the ML holdrs stock baskets as proxies for specific segments of the new economy. But with the exception of the bbh, these baskets do not yet have enough of a track record for anything but day-to-day comparisons. This is probably more than you wanted to know, but I wanted to explore the issue you raised a bit.

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