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

To: Olu Emuleomo who wrote (26862)	11/19/1998 10:59:00 AM
From: Rob S.	Respond to of 164684

Beautiful? It is a remarkable shift in thinking about the stock but it is nearly as over-bought as many other Internet stocks at this point. Take a look at the chart you posted: How many times in the past when Amazon's stock moved up almost completely vertical did it pull back in the following days? Ans: Each and every time. Look at the period in July when the movement was similarly vertical. Look latter that month when it again shot up rapidly. Then look at late September. Compare those periods of stock movement to the period from October through a few days ago when the stock made a steady rise, slowly taking out resistance and building support. When it reached the resistance level at 130-135 it stalled for a while and waited on something to stimulate it one way or the other. Bears had loaded up on the expectation that it would move down. The major brokerages and Amazon had arranged for a de-facto stock offering of 2.6+ million shares. And the company had timed that with announcements and introduction of new products and business deals. Once the play from the insider stock sell-off and surge of interest grows a bit more tired, this stock will drop 25%-40% but should remain above the 120 level. Before that happens, this monster may rise another 10 to 20 points, but it should start a move down next week.