Amazon.com, Inc. (AMZN) Message Board

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

AMZN 229.10

-1.4%

3:59 PM EST

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To: H James Morris who wrote (47096)	3/23/1999 10:09:00 PM
From: Sarmad Y. Hermiz	Read Replies (1) of 164684

James, >> I'm not in the advice giving business but why are you adding to your longs in a fearful market? I appreciate your advice. Here is my reason. I have now 300 long shares and 200 short. The reason for having some long is that I think amzn traders would have been happy to pass it back and forth at 130 or higher today, except the rest of the market crashed. So barring another dow crash tomorrow, I think they will want to take it close to 130 again. Why do I think that? Well today, amid all the gloom, amzn had struggled to 124 at 3 PM. It was only the last 100 point drop in the dow that dragged it down. I have noticed that very quick drops in amzn are usually reversed the next day with a gap up. I think if we have a flat to up nasdaq tomorrow, amzn should quickly climb to 125. I read your prev posts where you expect a drop in revenue for Q1. I consider it very unlikely that Amazon has not informed their supporting brokers about how sales are going. So as a short term trade, I think Amazon is more likely to reach 130 than 100. This prediction is good only to April 20.

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