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

To: Jan Crawley who wrote (12678)	8/5/1998 5:36:00 PM
From: IceShark	Respond to of 164684

Jan, Nekked calls and going on vacation? Good you are not going to try that - it really detracts from the point of the vacation. I was out in the bush of Alaska hunting for 18 days, the last three of which we were stranded due to horrible weather. As we sat in the tent trying to keep it together in 100 mph wind gusts and high teens temps, I occasionally wondered if the same beating was happening to my risky stocks. Not that I spent all that much time wondering since there were bigger problems on the doorstep than money, but it reinforced a siege mentality. Fortunately everything worked out. -g- Regards, DWW

To: Jan Crawley who wrote (12678)	8/5/1998 5:43:00 PM
From: Rob S.	Respond to of 164684

OCT 120s & 130s. I saw some large volume buys coming in to prop up the price after it dropped to 100. Likely a Foolish Fund manager who set that trade days ago. We may see another bounce up if the market to rallies but that should be short lived. I think the money that is now sitting on the sidelines is not likely to be chasing after the hyper valuation stocks but will pour into the blue chips first. Today's market rally was limited mostly to the blue chips with a still very negative advance/decline line. I think that the overall market correction has pretty well exhausted itself but is unlikely to reverse quickly until the breath improves. Maybe volatile sideways action for a while. There is more money sitting on the sidelines but also a high degree of "wait and see" attitude and apathy - not the rush for riches that would spur a large market rally - at least not yet. I don't think we are in a bear market but would like to see more of a correction to shake the tree of the bad apples before we can get onto a bull market. There is a lot of questions about "what can lead the market out of the correction"? I think it will be the cyclical consumer stocks and the tech stocks including the semis, networking and computer stocks. They have taken a hit for good reasons but those reasons are temporary and the growth outlook will start to improve past this quarter. The Clinton and Japanese government uncertainties will continue to weight down the market for a while. The market can rally despite these things but the chances are less likely until we get some resolution. I'm looking for Amazon.com to pull down to the 95 level or lower. We briefly saw 100 today but I'm looking more for a testing of that level before the stock plunges below it. My guess is that a fund had a technical buy program triggered at 100. This may have been set several days ago. The buy program initiated several block trades (20k blocks) that absorbed a lot of the downside momentum but still not enough to reverse the trend. Watch for this to kick in again if the stock clips 100. If not, then the buyer may have taken out his trigger and the stock will be set to fall through the resistance level. Just my read of the tape - any comments?