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

To: Randy Ellingson who wrote (20547)	10/7/1998 3:32:00 PM
From: Gil Gilbertson	Respond to of 164684

I have watched the feeble rallies. It seems they run out of steam at 106... My guess is the only major buyers are a few traders and those who are covering shorts. I dont think the major short players will cover until a stronger downside break on greater volume. They need a panic day as AMZN holders get scared finally and head for the exit. I would not worry about yhoo they are unrelated and have different problems. Any bounce will probably be enjoyed by the pros to short additional shrs. Tomorrow is cover you A--s day for the people who have had a strong buy rating as they readjust their projections....

To: Randy Ellingson who wrote (20547)	10/7/1998 3:42:00 PM
From: Rob S.	Respond to of 164684

I don't read it that way. NZMA has been doing much better than the average inet stock - tracking closely with Yahoo! again recently. The drop relative to YHOO and relative to other inets which tend to move down to a greater percentage than the "darlings" is significant. AMZN broke through the touted support level at 100 with little hesitation. It's now sitting at the 94 support level that ws established several days ago. Investors will be watching YHOO earnings and guidance to see where the sector goes. My guess is that even a great report won't do much for NZMA except for a quick pop. AMZN hads formed a double bottom at around 90 today which may signal some support. As the dumb pimp brokerage analysts get the competitive reality smashed into their faces, they will have to revise their outlook. And even many internet speculator wanabees will have to admit that Amazon doesn't have the open field they once dreamed about.