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Strategies & Market Trends : AMAZON.COM RIDICULOUSLY OVERVALUED BY ANY MODEL (AMZN)
AMZN 244.41+0.6%Nov 7 9:30 AM EST
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To: bob s who wrote (45)3/19/1998 10:53:00 AM
From: Candle stick  Read Replies (1) of 182
 
I think one analyst downgrade will be all it takes...it is beyond me how none of the 30+ analysts following AMZN have yet to downgrade....but hope springs eternal. AOL was DOWNGRADED to neutral by Merrill Lynch this morning......is this the first of a long line of downgrades in the internet sector? I think so. AMZN must be next on their list, along with YHOO.....Merrill has a huge retail base, probably the largest in the street, so I would expect their recommendation to be heavily followed by clients and to have big impact on the price. AOL down 2 points already.....now, if they downgrade AMZN and then one or 2 more do the same, the same momentum traders that took it up here will sell it down further and faster than it went up.......my opinion, of course....

Also, on April 23 AMZN will report earnings(losses actually) and the street will be watching the REVENUE number intently. Since last quarter was the Christmas selling season, I find it hard to believe that AMZN sales will increase sequentially, and that would be a big blow to the momentum buyers, who are basing their decisions on growing sales only.............;^)
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