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

AMZN 226.51

+2.7%

3:22 PM EST

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To: Olu Emuleomo who wrote (20799)	10/8/1998 5:28:00 PM
From: craig crawford	Read Replies (2) of 164684

>> This is a capitulation day! << I thought we saw some capitulation in some techs this morning, BUT there are some real telling statistics that tell me it's better to not go long yet. For instance...there were 1561 new lows on the Nasdaq today. That was the absolute worst of the day. I think it is the worst ever. Now look at the Nasdaq which cut it's losses more than in half. I sat there and watched new Nasdaq lows increase every single minute as the Nasdaq composite rallied from a hundred down to only 43 down. That is just one indicator that says this was a lame rally, it also disturbs me that the Dow doesn't ever seem to capitulate. I am amazed that it holds up so well.

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