Amazon.com, Inc. (AMZN) Message Board

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

AMZN 232.38

+0.1%

Dec 24 12:59 PM EST

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To: Victor Lazlo who wrote (6676)	6/18/1998 9:08:00 PM
From: gbh	Read Replies (1) of 164684

Victor, there's no question short-term (day) traders are churning this stock. With a float of 6M shares and an average volume the 5 sessions of at least 5M shares no one could question this fact. But these traders have been feeding off of panicked shorts who have been covering. And guys like me have been contributing, by buying shares to box my short. Today we saw the top get blown off. Not many more shorts left to panic sell. And some reality among the real longs that the price is ridiculously high. You might expect at least 25 points to get lopped off the 82 high. That still leaves the price at 57. A full 12-15 points higher than where this all started. But I do not think this will be the beginning of the end. Any other thoughts on this? Gary

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