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

AMZN 229.60

+1.5%

3:59 PM EST

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To: zax who wrote (13169)	8/11/1998 12:39:00 AM
From: Bill Harmond	Read Replies (1) of 164684

>>Opposing views? Does anyone really believe that this such a one sided market rally can continue like this? The US market has a very good chance to leg down again. Technically it remains weak, and the last three days (while sitting on important support) can be interpreted as a consolidation in a decline. So, things could go down more. Asis shows no resilience. The currency raiders are at it again, and the new Japanese leadership looks embalmed. But none of this Asia really affecte the Internet companies growth prospects. If anything the cheaper components are an enabler. Most importantly, the lower rates (check out US short-term interest rate futures today) only lend support to these valuations. So, who knows? With Yahoo scoring another record high against the S&P 500 today, maybe the new-paradigm party rolls on like radio, movies and aviation did in the 30's.

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