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

AMZN 232.38

+0.1%

Dec 24 12:59 PM EST

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To: Jan Crawley who wrote (14476)	8/24/1998 12:56:00 PM
From: Rob S.	Read Replies (2) of 164684

Many of you have probably seen this: biz.yahoo.com It points out that a slew of new internet IPOs are due in the next couple of months - investment bankers are rushing to get them out while the sector is hot. The total number of IPOs is down considerably. This may continue to draw interest to the sector. My guess is that by November the inet sector will plunge - after the IPOs have made their initial moves up and then falter. Too bad IPOs can't be shorted and options don't trade on them. The charts on hot IPOs are very predictable - after a large initial run-up for 15-60 days, they plunge back down, often moving toward their offering price. I think that the darlings in the sector will be helped by all the attention but once the IPO cycle winds down that they will move down. My price target for OCT-NOV is for AMZN to reach 95 and then base around 105.

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