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

To: IMPRISTlNE who wrote (12299)	8/2/1998 6:21:00 PM
From: Rob S.	Read Replies (2) \| Respond to of 164684

Cute but no cigar. Hey fellow bears . . . I can tell that the bulls are getting real nervous about their 90 day wonder going down in flames - the vain protests and vacant claims about Amazongonenuts.com has picked up to a fever pace. I first decided to short (sell naked calls against) Amazon.com not because the fundamental analysis said so or because the stock had exceeded all but the underwriting brokerages targets (they will never say enough is enough as long as a sucker [excuse me, "investor"] still breaths life into the stock price - and into their pockets). I didn't think Amazon would go down just because the TA on the stock flashed one of those once-in a lifetime set of indicators that statistically scream "this stock WILL GO DOWN with 95%+ certainty". Those things told me that the stock was very, very likely to go down from the precipitous level it has reached. But before I came to that conclusion I had monitored this SI thread, the TMF and Yahoo! Amazon threads and a couple of other stock boards. What I have come to observe is that these threads are a general indicator of market sentiment that is telling of major shifts. When the sentiment among the bulls turns brazenly braggart, then it tells me that the momentum has probably played itself out and the fools pockets are about as over-extended as they can get. Now I get a sense that the bulls on this board are truly worried that the trend in Amazon.com has reversed rather than just being a stall along the way up to even more rediculous valuations. Hmmm . . . now I may have to revise my short-term targets down a bit because many of the longs are likely to jump ship while there is still room in the lifeboats.