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Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: McNabb Brothers who wrote (68878)	7/22/1999 1:12:00 PM
From: Rob S.	Respond to of 164684

It has solidly broken through support at 120 and is near the support level near 100. Past stock splits have helped the stock out and I think that the intended purpose was to prop up the stock in the difficult OCT-SEP period - notice how it is timed during the historically worst period of the year and when net stocks plunged last year? It may not work this time - investors may fear that the stock already has a large enough number of shares for speculators to chase after and may sell instead of being encouraged by what must be seen as a bold move. I think this is the setting up for the unwinding of Amazon's stock. The classic Pump and Dump. I hope Bezo's scheme works - that the stock gets pumped up on the split and several new deals, then Christmas sales go bonkers and investors have amnesia about the losses. The analysts revise their price targets up 2x-3x the current level. And as a result of all this, the stock soars to new highs by early next year. Then it would probably be the time for major shorting. Near term it is likely to test the 95-105 support level which I think will be strong. If it punches through that level then it may go much lower.