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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 242.61-1.5%Jan 13 3:59 PM EST
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To: Glenn D. Rudolph who wrote (35835)1/21/1999 2:28:00 PM
From: GST  Read Replies (2) of 164684
 
Glenn -- <AMZN showing support>

The tricky part is to distinguish support from the flat runner on the stairs. With every drop in AMZN there is usually a long period (we are, after all, talking about investors for whom long means one whole day) during the day when millions of shares change hands at a fairly stable price with low variation -- then there is the next drop and the same thing happens. Think back to when AMZN was 180 (it only requires short-term memory). Many, many millions of shares changed hands at that price with little movement -- was that support? What happened to those who 'played the bounce at 180? At 160? At 150? At 130? Now at 100? The trend is down. That is not the best time to buy the dips.
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