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

AMZN 227.35

+0.3%

Dec 19 9:30 AM EST

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To: Jan Crawley who wrote (40869)	2/18/1999 12:43:00 PM
From: Rob S.	Read Replies (1) of 164684

Jan, the Internet stocks and the techs in general have "lost leadership". The TA continues to look very weak: The MACD shows deterioration in support for most stocks in the sector. The various accumulate v. distribution indicators have reversed from highly positive in early JAN to very negative. The momentum indicators are negative (Duh). The only somewhat positive indicators are that the stochastics have moved to the lower range - where they can stay for a while or could make a "technical bounce" after retreating "too far too fast". But even those indicators that might signal that a bounce is gaining in possibility are limited by the fact that the retreat has been "orderly" - not a steep plunge caused by a panic. IMO, if we see the nets level off then we may get a rebound but the trend will remain down at least until April tax return money floods into the market. Once that wears off, the high flyers will move down during the late Spring and summer months. I know for sure because I went to madame Zora to get my fortune read. Other indications are that insider buy/sell ratiosn have switched from psotive to negative. Interest & bond rates have turnd negative - drawing money out of the market. Japan and other Asian economies have shown signs of a mild recovery which is attracting repariation of foreign investments and a flow of US and European investments. A bit true also for S. American. And the FED has topped out on it's easing of liquidity. Net effect of all these things is lower liquidity and more compaeition that dras money out of US equities - and the most severely hit have been and will continue to be the most highly speculative momentum stocks. This trend is likely to be the backdrop for the market for at least the nxt few quarters. The underlying economy will remain strong. But the go-go period has gone for now. Go Amazongonenutty.com!!! upward to 60!!!

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