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

AMZN 229.55

+0.2%

Dec 5 9:30 AM EST

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To: Sarmad Y. Hermiz who wrote (41749)	2/22/1999 4:22:00 PM
From: Rob S.	Read Replies (1) of 164684

The market had a broad rebound with the tech and financial sectors showing leadership. However, this came on lower than normal volume. A good sign was that the Russel 2000 was up over 1% - showing the relatively under valued small-mid caps participated. It's likely we will see more of a rebound over the next few days. Whether this can sustain itself remains to be seen. I have my doubts - but until the market reveals weakness, go with the flow to the upside. Amazon didn't look very impressive considering the strong movement in the overall market and tech stocks in particular. I wasn't very impressed with the move in any of the Internet stocks - I think this will turn into a suckers rally shortly. But I don't expect a rapid decline to follow either. Just a whimpering decline after a nice move up. Look at the relative volume in Amazon and many other Internet stocks: the volume was modest, showing little return of momentum invetors or eprevious enthusiasm. Or it might indicate that investors are turning their attention elsehwere - kinda what I expected to see - a "sector rotation" into less strung-out sectors - like the small-mid caps.

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