Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Bill Harmond who wrote (13824)	8/17/1998 5:29:00 PM
From: chucke	Read Replies (1) \| Respond to of 164684

Way too soon to tell. Yahoo, Excite, Lycos, Broadcast.com, DoubleClick, CMGI up. The group was mixed today. Don't forget that Amazon was so strong that it didn't come down and test its correction lows with the rest of the market last week, and held today above its 10-day average. Well, I looked at four big factors today, and decided to sell at 120-5/8: (1) AMZN decoupled from broader markets; (2) AMZN decoupled from YHOO; (3) Very anemic AMZN volume; (4) Possible broader market downturn based on what Clinton might say tonite. Add to that talk by some Shorts about the Head and Shoulders trend and I just thought that about now was a good time to take my profits (bought at 43). If this is a sell signal, so be it. I still think this stock is headed higher, but probably after a correction. One thing I can say about this list, it's a lot more dignified than the Yahoo list.

To: Bill Harmond who wrote (13824)	8/17/1998 6:17:00 PM
From: Tenpole	Read Replies (1) \| Respond to of 164684

Bill, it didn't come down and test its correction lows with the rest of the market last week, and held today above its 10-day average It really seems to be trading in a range right now and can happily trade down to around 110 without the range being broken. My personal view is that there is a minor acceleration to the downside but that is just a guess and is based on the latest high not closing on the trend but reaching it intra-day and then falling away. If we see a break above or below the levels that would be significant but until then it'll potter along happily. Other indicators support this (stochastic overbought cross, declining RSi etc) as do systems such as the DeMark indicator. One more point - I don't know what software you are using but it is using the 25dMA as support tonight. T Ps As thestreet.com pointed out earlier today, it could take a 70 point hit and still be on an uptrend.......