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

AMZN 220.89

-0.7%

10:55 AM EST

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To: 16yearcycle who wrote (58643)	5/26/1999 12:06:00 PM
From: Sarmad Y. Hermiz	Read Replies (4) of 164684

>> But, I now need to be right about the rally, and it should be a stupendous one. << I think a rally is very likely, but not stupendous. Mainly because the style of buying with abandon on a breakout has not worked. There will be new entrants who have not been burned, and they will gladly jump into the fire in July. But I think not as many. Besides I think this time WH will definitely sell at 200 and so will every long who watched all their profit disappear while trying to avoid taxes. The problem is that others will sell at 180 fearing it won't go to 200, and others will sell at 160, etc.... Now things are different from last time because 1- many more shares in the float. 2- funds don't buy at the top (if they did, it wouldn't be a top). 3- warehouses, new products, etc.... do not generate excitement any more. 4- higher price targets ? after 280, who will fall for those (except new speculators drawn in by rising price). Did you see CUST. Someone made a target of 230 for it. It went from 60 to 90 then down to 50 in three days. I was able to capture only 10 points of that on the short side.

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