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

AMZN 239.12

+0.4%

Jan 16 9:30 AM EST

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To: SkyDart who wrote (35990)	1/22/1999 1:15:00 AM
From: Dwight E. Karlsen	Read Replies (2) of 164684

The problem with "Zweig went back for 70 years and analyzed the ratio of bullish advertisements in Barron's Stock Journal to the # of pages. The surprising finding was that at market tops, the # of bullish ads was overwhelming and at a peak high. At market bottoms, there was a dearth low of such ads." is...."This time it's different". There are too many people who don't buy for rational reasons, and conversely, I'm not expecting them to stop selling just because of some theory that goes back 70 years. When you throw out the book, you throw out the book. It's ironic that bulls are now trying to drag theories out of the dustbin to restart the greater fool engine. I'm not saying the theory has no relevance. I am saying that in this current case of the inuts, one should expect to have to wait a whole lot longer than one week from top to bottom. Lots of people are only now becoming aware that inuts are selling off. Expect the fear to spread, not contract. If all else fails the bulls can point to "the next split" or a "blowout quarter" in 1st Qtr 1999. NOT.

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