Tulipomania Blowoff Contest: Why and When will it end? Message Board

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Non-Tech : Tulipomania Blowoff Contest: Why and When will it end?

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Jun 26 5:00 PM EST

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To: Jorj X Mckie who wrote (997)	2/20/1999 11:50:00 AM
From: bobby beara	Read Replies (1) of 3543

Jorj, Amzn has been traveling down since the 27th in in nicely confined channel and decreasing volume, the volume picked up significantly in the last two days, it peaked below support and reversed up. I was watching it carefully (as a bellweather internet) to see if it would breakdown here and it didn't. Right now it is sitting on the upperchannel line, so we will have to see what happens monday. I have covered 80% of my shorts. Too risky to be short here with many oversold big cap techs in the rsi 30's and the Russell 2000 sitting on a firm support area that could lend internal breadth to the market and give the bulls something to cheer about. I gave several reasons for the blow-off, but the main reason was the overbought extension and the soaking up of demand by the flood of .coms around (even FDX -g- , IBM & T -g-) bwdik, bb

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