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

AMZN 230.27

-0.6%

Dec 11 3:59 PM EST

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To: Bill Harmond who wrote (13824)	8/17/1998 5:29:00 PM
From: chucke	Read Replies (1) of 164684

Way too soon to tell. Yahoo, Excite, Lycos, Broadcast.com, DoubleClick, CMGI up. The group was mixed today. Don't forget that Amazon was so strong that it didn't come down and test its correction lows with the rest of the market last week, and held today above its 10-day average. Well, I looked at four big factors today, and decided to sell at 120-5/8: (1) AMZN decoupled from broader markets; (2) AMZN decoupled from YHOO; (3) Very anemic AMZN volume; (4) Possible broader market downturn based on what Clinton might say tonite. Add to that talk by some Shorts about the Head and Shoulders trend and I just thought that about now was a good time to take my profits (bought at 43). If this is a sell signal, so be it. I still think this stock is headed higher, but probably after a correction. One thing I can say about this list, it's a lot more dignified than the Yahoo list.

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