Amazon.com, Inc. (AMZN) Message Board

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

AMZN 227.90

+0.4%

Dec 9 3:59 PM EST

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To: llamaphlegm who wrote (15052)	8/28/1998 12:00:00 PM
From: Bill Harmond	Read Replies (4) of 164684

My take is that the leadership (which includes Amazon, Yahoo, AOL, Dell, IBM, Cisco) has finally broken down. This makes me think that we have transitioned from a correction (like 1994) to a cyclical bear market (like 1990) where the major averages could decline 20% or more. I could be wrong and this could be a final washout (Putt/call ratio is as high as last October), but considering the simultaneous break of these issues after a quiet opening, I think the disciplined policy is to step aside and preserve capital. There will always be something to buy.

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