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

AMZN 232.37

-0.9%

Dec 3 3:59 PM EST

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To: Rob S. who wrote (12180)	7/31/1998 4:11:00 PM
From: Peter Church	Read Replies (1) of 164684

Hi Rob, What do you think, is AMZN is a good surrogate to short the market in general? Sometimes it seems to correlate very well with the Dow, but not today. Maybe there are better shorts around like BCST or even KO. Using your arguments against the Internuts, my theory is that the most overvalued sector of the most overvalued market would be the best place to bet short. But.... any other suggestions? The Dow Theory Letter (R. Russell) lists the two numbers for a sell signal as 8672 for the industrials and 3259 for the transports. I think we broke the support for the transports today. Can the Dow be far behind? I am guessing that "bad breadth" will bring it down with the rest and soon. Can AmZn hold up against this long sucking undertow?

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