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

AMZN 229.30

-1.0%

12:07 PM EST

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To: GST who wrote (128224)	7/13/2001 12:46:01 AM
From: schrodingers_cat	Read Replies (1) of 164684

Hi GST : I think what we are seeing is that people get depressed hearing all the warnings, so when the earnings come out and the companies make their numbers it sounds like good news. Those with longer memories may recall that back in Jan we were supposed to see a rebound in Q2, and then in Apr we were assured that Q2 was to be the bottom. These people are reading past the headlines and are finding things like " revenues will be down about 10% next quarter" and " our revenue guidance is being changed (lowered) to reflect current market conditions for our products". The shocking truth is that many tech businesses have not found a bottom, and none see an upturn in Q3. I think we will see a nice earnings rally in tech, and then a long grinding sell-off as the summer doldrums are followed by tax loss selling and seasonal weakness.

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