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

To: Danny who wrote (78190)	9/23/1999 5:51:00 PM
From: Rob S.	Read Replies (1) \| Respond to of 164684

There has been nice (bearish) trading action during the past few days. Although many bulls want to view the "market leadership" of the Internet stocks as a sign that they would lead the market higher, IMO this was mostly a refusal to smell the coffee and recognize the deterioration in market fundamentals and dynamics. The last few days have done some damage to market technicals but today's late sell-off by no means signals a capitulating sell-off and reversal is at hand. I think that this is just the continuation of the bearish drop we had earlier this year - and that the nets will likely test previous lows. Amazon is well positioned for xmas but may easily drop to the 40s. At that level I would consider it a short-term buy. KO may well be near it's bottom. Although it is still trading above historical valuations, the market outlook for overseas expansion should improve. I would wait to buy international consumer stocks until after the market corrects. Good luck - and keep your powder dry until there is blood in the streets (long way down to go - the market has hardly been scratched yet).