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

To: Jan Crawley who wrote (15620)	9/1/1998 4:00:00 PM
From: OtherChap	Read Replies (1) \| Respond to of 164684

Look out below! RTQ 79. Amazon is getting dumped like a rotten tomato. All of today's "buying" was in fact short covering from shorts who (rightfully so) wanted to lock in their amazing profits over the last few days. The volume was so high that I suspect the short position is WAY down. Add to that the fact that their own underwriter announced today that the stock is TOO EXPENSIVE and should be SOLD (i dont think i've ever seen that happen before) and you've got a recipie for disaster tomorrow. Without shorts to squeeze, nothing can hold this stock up anymore.

To: Jan Crawley who wrote (15620)	9/1/1998 4:28:00 PM
From: Rob S.	Read Replies (1) \| Respond to of 164684

I sold puts on both ASND and LU. The chart TA on LU looks great. It looks OK but not great on ASND - good momentum indicators but not as much support as I'd like to see - but it should be helped by a resurge in the sector as well as it's own TA. AMZN will likely remain volatile for a couple more days and may even sell off further. There is no real support level other than that it has dropped 50% off it's highs and now has some renewed luke-warm borkerage coverage. The momentum indicators are signaling a short-term oversold condition. It may sell-off further on WED morning but should bounce.