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

To: Peter V who wrote (6833)	6/19/1998 6:59:00 PM
From: Peter Church	Read Replies (2) \| Respond to of 164684

Looks like the bulls are mad and are trying for a comeback. But it wasn't all that impressive to me. The typical buying at the end of the day by traders, I think. Although they must have made a lot of money on the upside over the past week as opposed to us bears, I doubt that they are Amazon loyalists. They will jump to the short side when the trend starts downward. Then the real selling will begin. The case against Amazon sustaining or building on these prices is too strong to risk it further. Even an Amazon bull can see that. I think the shorts will be feeling better next week. But it won't come easily. The bulls aren't going to throw in the towel quickly. In retrospect I am amazed at how I made the classic mistake of "fighting the trend". I got run over by a train and am barely still OK. Next time I trade anything I will observe stops and not only my beliefs. The market has its own reason and I need to be less arrogant about it. An expensive lesson to learn. A question: Is it better to buy in-the-money options as opposed to out-of-the-money? The premiums seem relatively lower with the in-the-money strikes. Thanks and have a good weekend. Summer is here again in Northern California!