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

AMZN 226.19

-1.8%

Dec 12 3:59 PM EST

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To: Sarmad Y. Hermiz who wrote (120716)	3/18/2001 7:18:39 PM
From: 16yearcycle	of 164684

"Regarding these support levels. I think your method for evaluating the sp500 is reasonable. And for the Dow, probably a P/E of 15 can hold. But the nasdaq cannot be treated as one entity." Yeah, I tend to agree. I would also factor the long term dow/nasdaq ratio of 5/1 to 5.4 to 1 at bottoms into the mix. I'd also look at the nas 100 pe at 20 being about as low as it has ever been and that would suggest a price of about 1350 on the nasdaq itself. That would infer the dow drops to 7500 or so. Basically, what we are looking at is repeating the 10/8/98 bottom of 1400, 7400 and 950 respectively in the 3 major averages. That drop brought the dow to within a hair of the price it was at the time of Greenie's 12/96 "exuberance" speech. And all those averages would be undervalued by at least 20% according to the fed's formula. Long term ta trend lines also suggest 1500 on the nasdaq. So, since there is no reason to stay above 1500, lets do this tommorow and get it over with.

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