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

To: Andrew who wrote (7825)	6/27/1998 1:21:00 PM
From: Peter Church	Respond to of 164684

Do you really think that "small investors" would have been able to buy the 15,000,000 shares which traded in the last 5 days? (15M taken as 1/2 the total trades due to NASDAQ double counting). I doubt that even more. I think the momentum players are really day traders who buy at the opening and at the close while selling interday during the lull to smaller traders. If that is true, they haven't been able to unwind their position interday for several days now. Instead, they have been forced to defend their purchase price by buying more shares, hoping to push the stock up above 100. They are now caught with a ton of stock in what looks like a peaked out run. Not a great place to be. I admit this is just a theory based on observation of the tape and no special insider information. I am interested in comments if you think I am wrong. But, small investors with $1B to gamble---that stretches it.