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

To: John May who wrote (10413)	7/15/1998 7:23:00 AM
From: UFGator93	Read Replies (1) \| Respond to of 164684

The price action of AMZN is looking more and more like that of Iomega (IOMG/IOM) in 1996. As I remember, it rose to about 55 as a high. It then shot down to around 35-37. Down to 37 would be 67% of it's high of 55. For AMZN, 67% of the high represents about 94. Iomega then went up to 47 very quickly before turning around and dropping very quickly. This 47 for Iomega represents 85% of the high. For AMZN, 85% of the high represents about 120. So, if AMZN follows suit, it should see 120 (possibly filling the gap around 122) within the next two days before dropping very quickly back down to the 67% level and then further down from there. Iomega's drop from 30 to 19 was relatively slow and was filled with action in both directions. Who knows if AMZN will follow IOM. Either way, if it hits 125 I'm adding more to my short position. Damon