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

AMZN 247.35

+0.4%

Jan 9 9:30 AM EST

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To: fedhead who wrote (18072)	9/23/1998 7:52:00 PM
From: Rob S.	Read Replies (3) of 164684

<When everyone was negative on the stock as per the WSJ article and the barnes & noble online IPO that was the time to load up> That was probably when many of the shares were shorted in expectation that the stock would soon sink to new lows. This is a strange animal that you have to live with for a while to appreciate. The brokerage houses have made fortunes on the gyrations of the inet stocks and another round of speculation is being stirred up. Some people must think that the skyscrappers and beach condos are paid for out of thin air. Just as they did during every other stock sector hey day, the darlings of the inets will get pumped up during the release of significant IPOs. I don't think this build up will be particularly long lived because: 1] there is too much overhang from the previous trading at these nosebleed levels, 2] some on the street realize that the game gets too risky and they won't be able to maintain the momentum with their retail pressure. 3] the market itself is too jittery and has spent too much time on shaky ground to shrug off the effects of the downturn that quickly. 4] The TA shows too much resistance in the sector, the overall market and the stock to be overcome on the first significant attempt. Selling will come in to drop the price after another day or so of run-up, IMO. I think there was significant selling today - just that it was masked by the short-sellers stampedding to the exits along with the momentum players jumping on board. My wild guess is that NZMA will move up tomorrow and be down significantly from the highs it makes on Friday - probably down for the day.

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