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

To: Timoteo who wrote (12094)	7/30/1998 12:13:00 PM
From: Rob S.	Respond to of 164684

It looks like it's riding up on the strength in the market and some resistance at the 100-110 level. I agree that there is no conviction to this morning's move. The volume has moved down as the price has tired to rally -> the momo speculators aren't stepping in with any conviction. I think it trend to the 95-105 area and test this minor resistance level for a short time. This is where it crashed down to after the first time it peaked at 140 and there could be some momentum players who think the move up will repeat. There is some chance that it will, but I don't think it's likely at all that AMZN will go up near 140 again (I thought that last time it tested the high and obviously figured wrong). Unless Amazon.com comes out with some really incredible news, like they strike a deal with Bill Clinton to sell sex tapes on the internet, the downward trend is unlikely to stop for at least another 2-3 weeks.