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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 243.08-2.9%Nov 6 3:59 PM EST
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To: Jan Crawley who wrote (11208)7/22/1998 11:29:00 AM
From: H. Lee Grove Jr.  Read Replies (3) of 164684
 
A Prediction...

Since we all have little confidence in our abilities to predict the next moment's personality of this schizoprenic beast, I guess venturing a resultingly inaccurrate guess--reasoned as well as possible--can't be criticized too harshly--except for perhaps by Bateman, Hagman, WhateverMan he wishes to call himself.
Therefore:
News: Non event: Those who control the float will still control it
Today:Slight sell off today: $10
Tomorrow: Bigger sell off: $20-$25
Friday: Short covering rally initiated by "Those who control...

That's enough. My reasoning is that insider shares won't be salable this week, so in consideration of the fact that those who are long are essentially deaf, dumb, and blind, "Those who control the float [will] control the price"--until they can't; that is to say, until insiders dump.

There you have it. A big bold prediction spit right into the face of the bubble poster child.

A position to consider:

Per $14,000: A Short Three-Legged Dog

1) Spread:
a) Buy 20 A130C @ 15 3/8
b) Sell 20 A135C @12 7/8
2) Buy 10 A120P 8 7/8

3)Close the spread at price = 120 for a less than $2500 loss on spread
4)Place trailing stops on put leg; follow it down.
5) Use proceeds from closing spread to intitiate similar STLD @P= $120

Good Luck,

Lee
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