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

To: Box-By-The-Riviera™ who wrote (17422)	9/17/1998 8:41:00 AM
From: Box-By-The-Riviera™	Read Replies (3) \| Respond to of 164684

Look out....S&P futures this am down 25 pts....eurotop down 111....possible 250 point drop on the dow at the open on this basis.... Joel

To: Box-By-The-Riviera™ who wrote (17422)	9/17/1998 8:47:00 AM
From: OtherChap	Read Replies (4) \| Respond to of 164684

Futures down lock limit of 27 points. The opening is going to be ugly. Amazon will probably tank 12 points today, but I simply don't know with this stock anymore. Yesterday showed there is still an ample supply of nervous shorts, and they were covering like crazy right up to the last second of yesterday's trading. BTW- I think the reason for the squeeze yesterday happened for two reasons: 1) The "syndicate" that manipulates Amazon's stock price knows that bad news is on the horizon. They know that in the next week or so Amazon is going to be forced to issue an earnings warning. This is not a question of "if", but a question of "when". They knew that this week (and perhaps yesterday) is the last chance for them to squeeze the shorts and unload their large client's positions. When Amazon issues the earnings warning, this stock is going to plunge through the floor. I watched the ticker nearly all day and you could see literally THOUSANDS of small 100 share trades forced to buy whenever the stock hit an even number on the way up. I didn't see a SINGLE large buy. I saw lots of large blocks on the bid, though. Big clients dumping, plain and simple. 2) They knew that a lot of short covering was going to happen this week anyway as people had to get out of their profitable september put contracts, so yesterday was perfect timing. Yahoo reports good news and Amazon manipulators use that as an excuse to start ratcheting up the bid and the cycle continues.