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

To: craig crawford who wrote (15141)	8/28/1998 7:11:00 PM
From: fedhead	Read Replies (1) \| Respond to of 164684

The bull market kept going up as everyone said that the market was overbought. Now maybe the market keeps going down as everyone says it is oversold. It could be oversold for a long time. Or if everyone is shorting AMZN then maybe it is time for a rally. Anindo

To: craig crawford who wrote (15141)	8/28/1998 7:17:00 PM
From: Tenpole	Respond to of 164684

This open higher after a down day baloney is for the birds. If we open higher Monday I will be skeptical of the rally. I couldn't agree more. The market needs to really push itself down to get the buyers out. The more it sets up selling opportunities like it did first thing this morning, the lower it is going to go because it's going to have trouble finding a bottom. Oversold? By whose measure? Yes, the market has come off but is it all the way there? I've just run the charts on AMZN, LCOS, XCIT et al and only Excite and N2K are showing any signs of being sufficiently oversold to consider buying and even then it is hardly a bottom. (Check out just about any stochastic or RSI measure.) The price has just bust through the 50dMA (for the first time since $45) and a speed/resistance fan suggests that it has broken down a whole channel. For what it is worth, the weekly chart has put up a huge Bearish Engulfing pattern... There may only be one down day left, there may be more. But there is nothing yet that suggests that this sector has digested this down move. In fact, it may stay at the trough a little bit longer. T