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

AMZN 220.66

+1.6%

Nov 21 9:30 AM EST

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To: GST who wrote (118228)	2/21/2001 12:07:07 AM
From: Rob S.	Read Replies (1) of 164684

While I agree that we are technically oversold, I cannot agree that we are "oversold" from any other perspective. The average for the NASDAQ is STILL priced at three times the normal PE multiple of the low 20s to mid 30s. There are still too many faulty business plan based companies that have little merit other than being the first at something. The market has gotten so idiotic that it thinks that this is normal or owed. I don't think all the irrational exuberance has been weeded out of the drug crazed thinking tech sectors of the NASDAQ. yes, there are many wonderful companies that make real products and have real sales growth with actual profit margins, but the market has propelled the good, the bad, and the ugly to levels that only tulip bulb fanatics could appreciate. But you are probably right; it is due for a nice technical bounce from a short-term extreme oversold condition. But watch out - don't expect too much of a bounce because too many have come to the realization that past bounces haven't lasted and there is little reason to buy pigs that are fattened up for slaughter.

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