Amazon.com, Inc. (AMZN) Message Board

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

AMZN 239.30

-1.0%

Jan 30 9:30 AM EST

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To: Lizzie Tudor who wrote (58751)	5/26/1999 7:44:00 PM
From: Bill Harmond	Read Replies (2) of 164685

I think it has finally dawned on potential buyers (both individual and institutional) that they must separate the wheat from the chaff, and start by owning the leadership first, then only the quality secondary companies. I have heard from my manager and others that institutions are looking for a second chance to participate in the pure-play companies, so it makes sense for us to piggy-back on the names the institutions have to own. Technically these charts are a mess. There are no bases, support is broken, etc, so timing is a concern. My guess is that these stocks could do some testing and basing for a while. This decline reminds me of the April/May 1994 decline (when AOL declined from 95 to 55) and it took until the late Fall before it broke out again. Then again, it's finally June! If Mary Meeker is right, and market risk was 20% below yesterday's close, then todays lows were good enough for me. Mary's never been a great technician.

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