Amazon.com, Inc. (AMZN) Message Board

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

AMZN 229.63

0.0%

9:34 AM EST

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To: jach who wrote (31531)	12/29/1998 2:40:00 AM
From: KeepItSimple	Read Replies (1) of 164684

The sell program that hit around 3:30 knocked 10 percent off Amazon's price in a matter of minutes. And it wasn't really that large of a sell program- the volume only barely spiked.. (I'm calling it a sell program because i've seen several analysts including cramer say it was) It was the first selling of Amazon in any volume that I've seen for months.. Now just imagine, you newbie longs, what happens when four our five of these big fish with entry prices of 50 bucks a share say "Just sell the damn shares, take any price".. Now imagine what happens when all the daytraders see this happening. Now imagine that it happens on Jan 4th in the afternoon after some MM pumping, and everyone is itching to get out of this mania in the new tax year. One sell program chopped off 10 percent, if only for 5 minutes.. It's gonna be ugly. And just like Presstek, I can hear the whiners already- "I'm gonna sue! Management misled us! I wasnt stupid for buying this stock, it was CNBC and Bezos who swore to us that everything was ok, even at a 17 billion market cap!"

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