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

To: John Donahoe who wrote (33730)	1/8/1999 9:04:00 PM
From: Rob S.	Read Replies (1) \| Respond to of 164684

I agree that a test of the 200 level is quite possible. I posted earlier today that I didn't expect Amazon to finish as low as this but expected it to recover toward the close. I take this drop at the close as a bearish signal that the top has been reached. Maybe it will shoot up again toward that level but many investors must now think as it does "it has shot past even my favorite bull analyst's target. Today it shot down at the blink of an eye - I'm going to sell if it moves up to the 190's again." It's a lot like a crap shoot but maybe much more like a game of chicken with two cars coming at each other on the highway at 90 miles an hour. The chance for longs that the other side (the shorts) will get scarred into a panic (short covering) to miss a collision with the inevitable is getting pretty darn scarry.