Roger's 1998 Short Picks Message Board

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: Roger A. Babb who wrote (10128)	6/16/1998 9:00:00 PM
From: Timoteo	Read Replies (1) of 18691

AMZN: I believe right now AMZN's price is totally a product of arbitragers, traders and MMs, not long-term investors. The stock has been trading close to its entire float every day which means there is a lot of churning out there. The relatively small float also makes it easy to create the large swings which have lately been up. I know of no stock that has experienced the kind of steep climb AMZN has without a subsequent blowoff top. Does anyone know of one? What I'm not sure of, is what role insiders are playing in pumping the pr and dumping their holdings. I haven't looked at filings lately, but the big holders have got to realize that there is more money to be made with AMZN stock than their share of any corporate profit selling books and music. I made the same observation about VVUS in its heydey; hopefully I'm right about AMZN. That said I unboxed at 72, watched the action and reboxed and went long @ 73 9/16 at the end of the day (I know, just call me Sybil). I'm looking for 78 tomorrow, but it is running on borrowed time. I cannot see AMZN leveling out; its either going to go up or down. Best Wishes, Timoteo

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