Amazon.com, Inc. (AMZN) Message Board

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

AMZN 222.55

-4.4%

Nov 18 3:59 PM EST

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To: Olu Emuleomo who wrote (45997)	3/16/1999 1:18:00 PM
From: Rob S.	Read Replies (2) of 164684

The stock has failed to respond much to all sorts of cajoling and hyping by analysts. Today's announcements that they will float up to over a billion shares of stock doesn't help the long-term prospects for the stock, IMO. When this stock becomes as diluted as Sears or Wal-Mart, it probably will have nearly the same attraction to speculators. In the short term, the stock remains in the same range it has been in - still awaiting the kind of news that Internet investors clammer for - "Sales at Druggy.com have skyrocketed and Amazon is again at the front of the pack in an emerging category of e-sales." That announcement is probably forthcoming, IMO, but it remains to be seen if it will finally be enough to propel the stock through the 142 resistance level. So far the short-term indicators have shown a bit more bearishness but not a clear indication of which way AMZN will go. The longer term indicators look bearish. Several other stocks in and out of the sector have been more rewarding and safer bets. Amazon will probably make new highs by this time next year, but before then it is likely to trade down near 70-80 by this summer.

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