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

To: Jan Crawley who wrote (23231)	10/27/1998 11:51:00 AM
From: Rob S.	Read Replies (1) \| Respond to of 164684

Amazon is showing a weak rally this morning considering the level of overall interest in the sector. We could get a whimper roll-over rather than a cathartic bang and reversal. That's harder to see. I'd like to see a surge of late buyers come in "Look how much eBay and other Internet stocks have zoomed, I've gotta grad onto this rocket!" quickly followed by a wave of profit taking and leading to a shift in psychology and a greater move down. For now, I would guess that AMZN will move toward the 105 level again but might not go bellow that unless the fear of competition is heightened - probably too early for that just yet. The TA of the sector looks over-bought. If the Inets finish up today it will look even more so. If the close in the sector is considerably lower than the open today or tomorrow, then we should at least see a fair amount of profit taking. If that is combined with profit taking in the general tech sector and broader indexes, then the down-side will be greater, IMO. I jumped the gun by a few days during the last rally - I'll wait a bit longer to call the end to this run and wait for a read of the ccs. I think I will get on the eBay cc as well - got someone looking into it.