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

To: OtherChap who wrote (28568)	11/30/1998 9:03:00 PM
From: Daniel Simon	Respond to of 164684

A couple of posts ago I saw someone predict 170. Was that where you think it will open? I disagree with the sticky share price on the way down theory. I think everyone who is in now is a gambler/daytrader (what's the difference these days). Eitherway these guys know when to cut their losses. Besides they don't care if they make money long or short all they need is for the price to move. Meanwhile the ones maxed out on margin have all night to figure out what price they can sell at and still get out in one piece. What do you think they will do if the open is below their price? Any reasonable investor (i.e. someone who bought more than 2 weeks ago) would have bailed with the 2x increase in less than 10 days. Heck even the Fools are selling. Everyone knows this is a mania. They whole point was that shorts were afraid to short because there did not appear to be any limit on the market value these stocks could reach. No longer. These companies are not worth (today) what they are selling for. Maybe in five years amazon will be worth a 100bil market cap, but right now it is not worth half (perhaps not even a quarter) what it is selling for. Does anyone have an afterhours quote? Good luck and better profits, Daniel