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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: Market Tracker who wrote (13364)	9/1/1998 11:12:00 AM
From: gizelle otero	Read Replies (2) \| Respond to of 18691

Do NOT cover on AMZN ! This is a classic "sucker's rally" 1. Low volume. 2. Big guys getting out/small fish holding it up 3. Not a strong bounce off the low of $65. This one has a long way to drop. When the head cheerleaders say $46 is their price target, you can bet it is going into the high $20's at best. It will take time and patience, but if you are short you will win big time. I shorted at $108 and have NO stop limit on my orders. I will let it go up as much as it wants to in this "rally" and then hit it again when people realize $70 is still WAY too much to pay for a stock with NO EARNINGS, NO HOPE of future earnings, and underwriters with price targets 40% below the current price.

To: Market Tracker who wrote (13364)	9/1/1998 12:08:00 PM
From: Marconi	Respond to of 18691

Hello Market Tracker and All: Looks like something kicked in to buy hard at 10:30 a.m. ET. And that's probably not retail. Because the lows of yesterday were relatively 'new', as a rough rule of thumb, part of the move is likely to be retraced (~half), and then I expect more downward pricing to occur. I think it is too early for the sidelined retail money to rush into the market--too much ick in the other markets. The cautious roost for excess dollars is in cash until clarity of direction resumes. Best regards, m