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

To: Mike M who wrote (21053)	10/9/1998 11:41:00 PM
From: Glenn D. Rudolph	Read Replies (1) \| Respond to of 164684

Short interest is too high, and and I think it has withstood the B&N/Bertlesmann news quite well. Will be interesting to see how they hold up after earnings...high short interest will have little impact if earnings disappoint. Mike, Do you really believe anyone cares about earnings? Maybe and only maybe revenues. Glenn

To: Mike M who wrote (21053)	10/10/1998 1:42:00 PM
From: Rob S.	Read Replies (2) \| Respond to of 164684

The stock actually did quite poorly considering it normally has a high correlation with market rallies - particularly tech sector rallies. Up 5 points while the NASDAQ was up 73 is good? This stock has a super high beta - it normally rises a much greater percentage than the NASDAQ. Friday's action was NOT an indicator of strength. IMO, this showed weakness and confirmation that the sector has reached yearly highs for the ISDEX and particularly for Amazon. As much as the pimp brokerages want to hype the lucrative internets, they are now pissing up wind. Amazon may rally back to the 120 level in the next few weeks but the next rally will be the last before next year. I doubt it will go that high during the next up swing and will probably meet heavy selling above 105-110. The TA for the sector shows that although it has come down considereably in the past few days that there is still a ways to go before the sell-off bottoms. Of course, a strong market rally will lift the inets reagardless of the relative sector weakness. Some Internet stocks, those that have been beaten up for several days, look closer to a bottom. During the past few days many of the high PE darling tech stocks have sold off. These are the ones that previously had held up much better than the market in general. Even DELL, MSFT and others have taken hits - companies with PROVEN results and long tract records. But the high flying software, communications and other darling stocks have realy taken hits - those with PEs of 40-60 (or negative infinity in stocks like Amazon) have finaly met with skepticism that they can dodge the markets worries. IMO, it ain't over yet. The NZMA MACD just had a negative crossing on Thursday. The money-flow indicators have continued in negative territory throughout both the recent upswing and current downturn - money is flowing out of this turkey even whent he stock swings wildly upward - something you don't see everyday. This trend has continued since 8/28. Hype in the internet sector is still able to move the stock dramatically and short interest remains treacherously high. But each time this puppy rallies should be great news for insiders and VCs ready to unload millions of shares and equally good news for those selling along with them.