Amazon.com, Inc. (AMZN) Message Board

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

AMZN 229.12

-0.2%

Nov 26 3:59 PM EST

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To: the Druid who wrote (1657)	2/24/1998 12:22:00 PM
From: Candle stick	Read Replies (1) of 164684

What you have here is a combination of a breakout with a short squeeze....those two reversal tops that I have been talking about this past month were broken yesterday. The Jan. 23 engulfing reversal day was significant and the high that day was 64 1/8. Once we closed above that the sell signal was lost. Lots of technical short covering going on because of it. Also , keep in mind , even if 1 million shares have been added to the float, the last short interest figures I saw were almost 3 million shares. That was virtually the ENTIRE float. Squeezing is still easy, and will remain so until we see the form 4 filings that tell us exactly who sold, when, and how many at what price. Until then it seems that everyone is content to ignore the 20+ form 144 filings. Todays close will be significant. It must close above the previous high of 66 to confirm a breakout. If it closes below, it is quite possible that AMZN will form yet another bearish top by weeks end. For now I am on the side line waiting for a signal to get short again. Will keep you posted, good luck..........;^)

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