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

To: Olu Emuleomo who wrote (144606)	8/2/2002 3:59:00 PM
From: Oeconomicus	Read Replies (2) \| Respond to of 164684

Olu, looking at the AMZN chart, I noticed the following: - a couple of rising flags or pennants in the downtrend from the May high; - another pennant formed today on hourly or shorter charts, after the initial drop this AM, with declining volume and a narrowing range throughout most of the day; - a nice big head and shoulders over the last six months, with the neckline around 13; it tried to go below last week, but the market rally saved it. Would you agree with these apparently bearish indications? The H&S, BTW, would point to a return to 6 if we break the neckline for real. OTOH, it could rally in the last 5 minutes. ;-(

To: Olu Emuleomo who wrote (144606)	8/3/2002 1:21:25 PM
From: Glenn D. Rudolph	Read Replies (1) \| Respond to of 164684

">>>AMZN volume seems to be dropping off -- does that mean anything from your perspective >>> Not really, since the shares are falling. It may mean that the sellers dont yet have much conviction." Olu, I am not a TA person as you well know. I do know the Bezos and many other insiders sell a bunch of shares about this length of time after earnings (numbers) are released. It it possible that the small volume is them selling which is also helping drive the price of the stock down? The other non insider players are just sitting tight and not trading much.