Amazon.com, Inc. (AMZN) Message Board

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

AMZN 229.54

+0.2%

3:59 PM EST

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To: Rob S. who wrote (12824)	8/7/1998 7:47:00 PM
From: Mark Fowler	Read Replies (1) of 164684

We may get a last gasp day-rally to sell against but the momentum has fizzled. This is weaker than I expected - thought we'd see more volume and a larger move on the strength of the market and tech stocks. The broad market re-bound also has fizzled but the beaten down (and fundamentally STRONG v. rediculously overpriced inet stocks) tech stocks are providing some leadership. I look for choppy waters ahead next week for the market in general. Amazongonenuts.com may have a couple days to the upside on a market rally but I expect it down to at least the 100-105 level by the end of next week. General market weakness could cause AMZN to move down to the 90-95 level. It may take well into the fall for the drop to the 70 level, IMO<< Rob, there's something wrong with your analysis: The broader market hung on to a good part of its gains, with winners outpacing losers by a two-to-one margin. Amzn gain almost 6% today on better than ave. volume, while Nasdaq gain almost 1%. Whole lot of weakness there? The fact that Amzn did not revisit it low on 7/13, during the correction was very bullish. Prediction: Amzn probably will establish new support at 105 area and will not go below 100.

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