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

AMZN 233.22

+1.8%

Nov 28 9:30 AM EST

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To: GST who wrote (41522)	2/20/1999 8:17:00 PM
From: Bill Harmond	Read Replies (2) of 164684

I have a project for you. On a log chart of the Nasdaq Composite, draw a trendline under the January and June 1998 lows, and extend it to the present. Notice the sudden break in the pattern in July, and the lengthy attempt to find support on the trendline for nearly two weeks in August. Then the index breaks down completely for the global scare in September and the early days of October. Notice what happens next. The index rallies nearly vertically up to the trend line (drawn previously) fiddles around a while just under it, then gaps through it and peaks in January. Now the cool part. After the January high the index corrects. To where? The Trendline! And starts to rally! What we have is a resumption of the early 1998 trend for Nasdaq, with a huge panic time-out last summer. TA DA!! ...and to think this valuable insight costs you nothing!

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