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

To: Mark Fowler who wrote (15615)	9/1/1998 6:18:00 PM
From: Tenpole	Read Replies (2) \| Respond to of 164684

Mark, I see a Hammer Not on the indexes, but on AMZN. It's not the best hammer (body slightly long, upper shadow) but it's about as good as you could ask for while the volatility is as high as it is right now. What might also occur is a Morning Star with the first two portions in place. The volume certainly holds up the idea of a bottom. The one surprise for me is that even with the huge levels of decline, some of the oversold indicators have still to hit bottom, suggesting that any rally that might take place will be short-lived. Others however, suggest that now is not the time to extend a short position (for a trade). Other Internet stocks have failed to put up such a clear signal so, as AMZN, is one of the weaker (given recent comments) this could become simply a continuation pattern. What is more likely is that we'll see a rally up to the 90's before seeing another test of the current bottom. Given the problems in the market, that retest could be sooner rather than later. T PS Look at GPS for another example.