Amazon.com, Inc. (AMZN) Message Board

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

AMZN 248.74

+0.1%

1:12 PM EST

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To: Jan Crawley who wrote (11668)	7/24/1998 1:02:00 PM
From: Rob S.	of 164684

If it doesn't pick up by around 2:00 est it probably won't rally, my guess. I'd sell ahead of the weekend. It may rattle the nerves a bit but I think the speculators nerves will be rattled more - as they look back on the week's events or do TA, the conclusion among a large number of them will be to sell next week. Don't expect to see a one-way ticket down but don't get too disturbed by rallies. My longer-term outlook is that AMZN won't head down all the way to "fair valuation" this quarter. I expect it to pull down to the 80-100 level to base for a bit. Depending on how the fervor for internet stocks shows up, Amazon.com may not head down bellow 80 until it becomes more clear that sales momentum has dropped off considerably. We should start to see that as this qtrs numbers are reported. News of immediate success or not by Amazon's competitors could move the stock up or down accordingly. Sales growth momentum is what the market appears to be focused on and it will get worse for Amazon. I'd love to be proven wrong and have this stock down to 30 soon, but don't think that's likely.

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