Amazon.com, Inc. (AMZN) Message Board

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

AMZN 219.79

+1.2%

1:55 PM EST

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To: Tom D who wrote (10221)	7/13/1998 8:59:00 PM
From: Oeconomicus	Read Replies (1) of 164684

Maybe the late price upsurge is in anticipation of another 2 for 1 split. Yeah, you can hope anyway. A short covering rally plain and simple. Interesting that the shorts are more nervous now, with some even in profitable positions, than when the stock was at $140. The stock started giving a little ground back to the bulls and short covering accelerated the move. It seems, based on after hours quotes, to have ended with the closing bell. Doesn't look like a genuine reversal to me - no selling panic/climax, relatively little volume. Rather, looks like a textbook short covering rally - profit taking on the way down just as on the way up. Longs should use it as a selling opportunity. Don't fight the tape! And, to my fellow shorts, no need for panic. There will be more bumps along the way, but they won't even last as long as the dips on the way up. JMO, of course. Bob

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