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Strategies & Market Trends : Russian Crisis - Is it a buying opportunity?
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To: Ray Tarke who wrote (35)8/30/1998 7:20:00 PM
From: Jeffrey L. Henken  Read Replies (1) of 175
 
I don't think it's off topic at all since the thread is open to discussion of ideas about where best to be invested in the event the stock market does begin to recover soon.

AMZN is just one of many over valued stock in this group as far as I am concerned. Looking back over the years many groups of stocks have fallen into the category of we can easily describe as Wall Street Darlings. The biotechs and Y2K stocks are two perfectly good examples of such fad investing based on the same kind of reasoning that has allowed stocks like YHOO and AMZN to run so far beyond any reasonable valuation.

The reasoning is that the stocks in said group will supposedly end up showing such a tremendous growth in earnings that there is no better place to be invested. The reality is of course that very few of these companies will ultimately be tremendously successful at earning anything at all. Still it is hard to overlook a group when it garners this much excitement. The market sell off has become bad enough now that even stocks like AMZN are losing there luster. Until recently these stocks were a safe haven for those who follow stocks based on technical analysis alone. Take a look at the following recommendation from Market Edge's Second Opinion on AMZN who is still long on the stock:

RECOMMENDATION

STOCK SHOWS STRONGLY DETERIORATING CONDITIONS SCORE = -3 IF YOU ARE LONG; CLOSE POSITION OR MONITOR STOCK CLOSELY
STOCK IS NOT A SHORT SALE CANDIDATE

Regards, Jeff
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