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

AMZN 248.41

+1.6%

Nov 10 3:59 PM EST

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To: GST who wrote (123196)	4/7/2001 7:58:32 PM
From: Mark Fowler	Read Replies (3) of 164684

Gst, i believe market was clearly overpriced, but things are getting just as out of whack on the downside as they were on the upside. There is a complete loss of confidence in the Naz that has little to do with future prospects. Nows not the time to bail.. i'm going to be patient and will continue to nibble at a few good names from time to time. but i will perserve my capital for when this bear market is over . When that will be is not clear yet. I would tend to say the market could start to construct this qtr. and earnings could start to turn upward again sometime in the 3rd and 4th qtrs. I'd say by the end of May or June is when we could get better visability coming in from tech companies .. On the technical side i think we have much more work to do here and maybe a bit more downside. The ranges could between 1400 and 1150 on the Ndx 100 tech index, in that Major Zone, if 1400 is taken out and Sox goes to lower levels. In between there we could build support, from where the index V bottomed up from Oct 98 levels. I don't see a V bottom up this time however, this is looking more like a U shape.

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