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

To: Robert Stone who wrote (24703)	11/6/1998 10:35:00 AM
From: e. boolean	Read Replies (1) \| Respond to of 164684

Can't give you the TA, but watching the tick-by-tick trades I can tell you that there was a change in the manipulation/support pattern as of Tuesday. My impression was "Godzilla vs. Megalon": powerful forces which had been acting in concert to drive the stock up were now at odds with one another, with one trying to get out. FWIW, I think the Godzillas and Megalons of the general market are looking for instructions from the director today, and we'll be seeing a change in the action. No more dancing Fed governors filling the markets with happy talk. e.b.

To: Robert Stone who wrote (24703)	11/6/1998 10:59:00 AM
From: Rob S.	Read Replies (3) \| Respond to of 164684

Every time in the past when AMZN, AOL, LCOS and other Internet stocks and the entire ISDEX have reached this high in the charts and then shown signs of weakening they have sold off. That doesn't mean that it will happen today or even next week. Besides the indicators, this rally has now lasted as long or longer than the average rally in AMZN and most other Internet stocks. Other market and stock barometer indicators that, IMO, tend to apply well to Amazon is the effect of news on the stock. During times of positive momentum, just about any news that brought attention to the high-flying Internut sector lifted them up. An exception was the news that Bertelsmann is buying into B & N, but even that had only a temporary effect as it may have further legitimized the prospects for Amazon's brand of e-commerce to some investors and analysts. Today we have two different news items that oppose each other: the expected news that NZMA is getting into software sales and the correctly rumored news (thanks!) that Barnes & Noble will buy Ingram's book distribution business, the largest supplier of books to Amazon. Despite the news, the volume in AMZN remains modest and the price has not benefited from the attention. AMZN has not seen the degree of extreme price movement seen in a few other darlings including LCOS, AOL, NSOL. It has made a weak attempt to move past the resistance level at 130 and appears to be rolling off. I think it would take news that goes well beyond the expected to drive the stock higher during this rally attempt. The insiders will be selling shares stating next Friday and that should add to the downward pressure despite the efforts of the brokerages handling the issue. How much will it pull back? The indicators show accumulation of the stock and a strengthening of some longer-term indicators. I take this to mean that the sell-off won't be that much - not down bellow the 95-105 range and may not even go that low.