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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 233.22+1.8%Nov 28 9:30 AM EST
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To: Oeconomicus who wrote (13356)8/12/1998 2:14:00 PM
From: Rob S.  Read Replies (1) of 164684
 
Your guess is probably right. AMZN won't crash to 50 or zoom to 150 but is much more likely to trade in a range between 100 and 135 until some "if" cataylst drastically changes the picture. My personal analysis is that the stock will also react to increased dilution and a downward trend in the inet stocks. The stock and the inet sector both show the classic "double top" formation and declining MACD and accumulation/distribution patterns that are most often indicative of a downward bias. The internet is exciting enough to continue to draw new investors for some time to come. Fundamentals don't mean any more than they did for the emerging bio-tech stocks. Speculators are betting on the future as they look in the rear-view mirror with lust at how far the stocks have already come. Strong irrational feelings (". . .dirty, nasty love -give it to me!") is what drives the love fest for the internet stocks. In the heat of the moment, it doesn't much matter that your new love doesn't hold up.

Supply and demand and the ying/yang see-saw of a love relationship is what will drive Amazon higher and lower. The major players who have millions of shares to sell will play the love fest to their advantage as they sit as keen observers of every move in and out.

My guess is that AMZN will close the week at around 120-122. Next week it will be at around 114 at the close.
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