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

To: Olu Emuleomo who wrote (26424)	11/17/1998 3:26:00 PM
From: cellhigh	Read Replies (1) \| Respond to of 164684

boy..these stocks can give pain or pleasure in a hurry!!! as homer simpson would say whoooooHOOOOOOOOOOO!!!!!!!!!!!!!!!!!!!!!!

To: Olu Emuleomo who wrote (26424)	11/17/1998 4:34:00 PM
From: Rob S.	Read Replies (3) \| Respond to of 164684

I feel altitude sick . . . being deprived of oxygen at these levels gives me a headache. It feels better on the top of Mt. Rainier! I bought back in as I saw that the volume traded was continuing and the price was not selling off. Now there may be some serious short covering. Glenn, who knows if you made the right decision to short - good luck. Now that the volume is near 10 million shares, the insiders shares can be absorbed within a few hours. The residual effects of the increased float won't be felt until the activity quiets down - something that may not happen for a few days. The TA of the sector has pointed to a wildly overbought condition but Amazon has not participated until now and it's chart has not been as bearishly over-extended as many of the recent high flyers. With this news, it looks ready to jolt up to the stratosphere very quickly. The momo players are alive and kicking in their favorite sector. Some of the momentum from other incredible sector plays may now shift over to renew interst in Amazon. How quickly the market's perception changes. Since I visited Amazon's site last night, they have added in the cameras, Palm-corders, and other stuff. What they have is well thought out. They certainly aren't the lowest priced site on the Internet - 30% off of items that have high ticket "list" prices is no discount at all. But they will find many customers who will find things that they want for similar prices to what is found in the shopping malls. And Amazon makes it very easy to select and buy things. Their edge is in the finer points. Other sites are watching and learning from Amazon and the competition will become more and more aggressive. But for now the focus is on what they have going - strong sales and stock price momentum. My guess is that Amazon will spike up some more. It has punched through the old high enough to do at least some damage to the idea that the resistance at the 140 level would stop it. Now that the cork is off the bottle, so to speak, it could shoot higher before the weight of competitive concerns and profit taking step in. But, then again, enough people may look at the situation in the calmness of the after-market and figure that the Internets and Amazon have finally come too far, too fast and it's now time for a real pullback. The TA on the Internuts is now near Pluto but "story" type momentum seldom finishes in just a single day unless something offsetting comes in. Considering all the upward movement, I came out badly today by selling off way too early.