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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: zebraspot who wrote (9824)	7/10/1998 1:55:00 AM
From: Dwight E. Karlsen	Read Replies (1) of 164684

thanks..here's from Briefing.com, July 10th: "Just as we thought... Internet stocks surged off the open in response to Yahoo!'s (YHOO) extraordinarily bullish earnings report, only to end the day in negative territory... Makes it official... Near-term top is in place... Look for search engine stocks to lead the Internet group broadly lower over the next few weeks... Reasons why we expect additional weakness: Group ran too far too fast and is simply way overextended technically... Second, all the good news is out... Most of the stocks that were likely to split have already done so (announced) and we now have confirmation that the earnings growth is there... Just as Excite's earnings report marked the top of the last Internet surge, trader's will look back and see that Yahoo!'s report marked the top of the current move... Box builders rallied sharply higher for the second straight session... Market growing increasingly convinced that corner has been turned on the inventory front... Additionally, investors optimistic that Windows 98 driving faster than expected sales... Street also hoping that Japan's bank reform will mark the bottom of the Asian crisis... If ifs and buts were candy and nuts, wouldn't it be a Merry Christmas!... [Hey, maybe that will be Amazon.com's new slogan! -G-]. Unfortunately, nothing but hopes and anecdotal evidence to suggest that PC sales growth will reaccelerate in the second half of the year." briefing.com

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