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

To: Eric D. Moody who wrote (15327)	8/31/1998 12:00:00 PM
From: Rob S.	Respond to of 164684

What rallies? Everyone is selling - this is a bloodbath, not a controlled drop. There has only been about 22% institutional ownership and they are probably selling but so is just about everyone else, IMO. Catching a falling knife is going to be a tough call. The 105 support level was quickly taken out and the 95 level may go just as quickly. The next significant support level is at 45. As bulls were fond of saying - "you can't value these stocks based on fundementals." In a market sell-off there is little to judge just how far down the inet stocks can go. TA is only partially useful because individual price movement is being overtaken by external events. With the "little guy" turning cold and preparing for a long-term down trend, funds or anyone else hoping to cash NZMA out a higher price has had their hopes dashed. My how just a few days have changed everything. Now many anals who were bullish on the inets are saying " . . .these stocks had gotten over-valued and were due for a correction. The sales growth is still great and they will eventually recover. (although we still had buy recommendations on them or even targets at much higher prices). And many of these anals get paid six figures for drolling out this garbage to their clients!