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

AMZN 235.95

-0.7%

1:25 PM EST

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To: Sarmad Y. Hermiz who wrote (51456)	4/19/1999 4:48:00 PM
From: Rob S.	Read Replies (1) of 164684

It's hard to tell if the nets will get lifted again due to "bargain hunting" or real technical damage was done. The pure TA take on this is the DOW experienced a key reversal - panic buying in the morning followed by panic selling of high flyers in the afternoon. The Internet rich NASDAQ was down solidly all day. Whatever bargain hunting was snuffed out by the flood of sellers. I think this is bad enough to cause harm to many traders egos so that the trend is now decided. Any move up from here will be a trading opportunity on the broader move down, IMO. I will take a bit of a closer look at the TA and try to confirm this quick take of today's events. Judging from the volume, the funds were dumping the net heavily. They don't want to be in them when they hit the beaches this Spring and summer.

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