Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Millennium Crash -- Ignore unavailable to you. Want to Upgrade?

To: Moominoid who wrote (3736)	10/27/1998 6:46:00 PM
From: Giordano Bruno	Respond to of 5676

From the AMAZON thread... \| Next \| Respond \| Earnings \| To: +Glenn D. Rudolph (23181 ) From: +Glenn D. Rudolph Tuesday, Oct 27 1998 9:14AM ET Reply # of 23284 From Briefing.com: "General Commentary Momentum, momentum, momentum... Techs riding incredible wave of momentum as equity investors are displaying a much greater tolerance for risk than fixed income investors who continue to favor the risk averse short-term instruments... Nowhere is the renewed appetite for risk better exhibited than in the high-flying net sector... Led by EBay (EBAY) which soared 46% on nearly 15x average daily volume, Internet stocks enjoyed one of their best days in months... Why? Some were buying ahead of AOL's earnings, due out after today's close, on anticipation that good report would spark buying throughout the group... Others just getting back in on belief that selling during correction was overdone and that group offers "value." While there is no denying industry's/sector's bullish tone, we do question market's willingness to take on risks at a time of slowing earnings growth and high valuations... Yes, global environment has improved due to declining interest rates, Japanese bank reform package and expected aid package for Brazil... But investors ignoring lag effect on economy and earnings... Downside of global turbulence was barely felt in the third quarter, meaning that the worst of it is yet to come... Depth of slowdown, assuming steps taken achieve recovery (big assumption), likely to come in quarter one of 1999... In other words, we are facing at least two more quarters of slowing earnings growth... As Q4 estimates begin to come down in the weeks to come investors will again show a preference for more reliable earnings performers such as Dell, Microsoft, etc... Net stocks will get clobbered, and most recent darling - EBay - will be among the biggest casualties."

To: Moominoid who wrote (3736)	10/27/1998 7:15:00 PM
From: bobby beara	Read Replies (1) \| Respond to of 5676

One of their claims is that the patterns don't change that much over time. I agree. Human behavior is represented in charts and we are creatures of habit aren't we -g- >>Martin and Parry 1945) looks just like Amazon's weekly chart with a massive 6 month flag. << what was the result? bb

To: Moominoid who wrote (3736)	10/27/1998 9:17:00 PM
From: Thomas C (Hijacked)	Read Replies (2) \| Respond to of 5676

David Stern and others. Are you sure that the correct analysis of Amazon is a flag? Looking at the weekly prices on Amazon I see a Rising Wedge which Edwards and Magee discuss also. In fact I also see a Rising Wedge on the DJIA and it appears we are soon to break out of the wedge on the downside which is consistent with the formation. Magee says once prices break out of the wedge on the downside they usually retrace all the ground gained within the wedge and sometimes more... Also in the last 8days prices on the djia I see a descending triangle which is bearish. tc