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

To: Rob S. who wrote (15050)	8/28/1998 11:42:00 AM
From: Bill Harmond	Read Replies (2) \| Respond to of 164684

>>William, were are the bulls? If they're smart, they're in the barn.

To: Rob S. who wrote (15050)	8/28/1998 11:51:00 AM
From: Marconi	Read Replies (1) \| Respond to of 164684

Hello Rob S. and All: Looks like a speed bump around 104. Much of my thinking in August was that there will be a test of support around 90-100, but also episodes of runs and gyrations. A plateauing here or a little lower would be indicative of strength for another run up. There remains too much money sloshing around and although the tank has been sloshed hard for a couple days, in general we do not have any major factors at play that have removed a significant enough chunk of capital out of the tank for the sloshing not to resume. I think there is still a good chance of at least one lower high within 2 months, plus some manipulative activity. With the amount of stock out there, the dilutive effects will contribute to moderating the gyrations. I think it is too early to call this a broken stock -- the fantasy is moving toward reality. This move down has not been in excess of the speed or magnitude of some of the recent run-ups, and it is my understanding that falls go harder than runs. That would be exciting. Then again, AMZN may go into the erosive price failure mode, a pattern for many fundamentally overvalued stocks. Another way to deal with today's position and pricing is to dial back the time window to when the stock was at this price level. Fundamentally and marketwise not much has changed, nor economically. The rumblings though have a very real effect on psychology. Trade with caution and deliberately. Look for violations of expectations, and gage those carefully. Best regards, m