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

AMZN 232.44

+1.4%

12:06 PM EST

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To: Sarmad Y. Hermiz who wrote (41374)	2/20/1999 4:23:00 PM
From: GST	Read Replies (2) of 164684

Sarmad-- in a word -- maybe. I don't expect the 'rally' to have legs -- I think it is more tactical in nature. The freefall was stemmed this time. How many times can you do that? He is trying to 'define the range', and for the moment that will work. But remember, AMZN was free falling into a pretty subdued market. This is my take -- AMZN gets a bounce -- maybe to the 120 or so range -- and all the bulls start calling all clear as they emerge from the woods where they have been hiding so as not to look too silly as it was tanking. We get a growth bias on global policy that lasts about as long as it takes for people to realize it aint going to be that easy. Then we get an inflationary scare and a big sell-off -- with this unfolding in less than a month. AMZN? Next options expiration we may see a sell-off with no hope of a rebound. BTW, this 'announcement' was bare-assed manipulation at its most crass -- and it worked just fine.

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