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

To: Paul R. Drahota who wrote (36148)	1/22/1999 6:53:00 PM
From: David in Ontario	Read Replies (3) \| Respond to of 164684

Cramer comment's on the "Internet's" +++++ The Buying's Over By James J. Cramer [ theStreet.com ] 1/22/99 2:46 PM ET Looking good, but don't want to lose my mind here. My discipline does not allow me to buy any more of anything. The sale is over, and unless they throw another one, maybe because Jerry Favors reads the road maps and takes us into some sort of retaining wall this afternoon, I am done buying for the day. ... Lots of times we get a Friday afternoon sell-off as people figure, heck, too hard to own them over the weekend, but to me the action looks benign. In the background, I am hearing Maria Bartiromo drone on about how "... the Internet Net stocks are down." Wrong! Today they are up. And I think they are trying to bottom. Can't go overboard in this group, too much underwriting pressure, but for a bounce, I can't think of a better place to be. +++++ I'm hearing different things with regard to the earning's...from 'blowout' to 'less than expected'. In any case, now that this week of earning's is behind us, there will now start to be a lot more commentary on AMZN's earning's. Considering 'going deep' and holding through Tuesday's close...No gut's no glory!! Will decide later. I pay cash for this one...I wouldn't be able to sleep well it I had it short or on margin. David.

To: Paul R. Drahota who wrote (36148)	1/22/1999 7:21:00 PM
From: Rob S.	Read Replies (1) \| Respond to of 164684

The stochastic indicator is one that technical analysts watch that has been reliable for predicting Amazon's movement when combined with a few other key indicators. When a couple of other indicators create a complimentary set of conditions, then the odds increase that a shift in direction will occur. In this case take a look at this combination of indicators (some additional ones might also ad to the argument): The stochastic indicator dropped rapidly from JAN 8th when it was at over 95 through the 80 negative indicator crossing point and down to the 20 crossing point (negative extreme crossing point). You have to interpret these indicators differently for each stock or sector. Amazon has been very predictable by only momentarily staying at the extreme of this indicator, particularly after large, quick movement down. Amazon must be made of natural rubber from the jungles because it bounces well. Then you might look at the extent of the typical drop in the stock. Amazon has dropped rapidly in the past on a few occasions - particularly when it has moved to the extremes on the upside. But even though it has dropped by 50% a few times, it has managed to bounce back to recover 30% or more of the drop. This time around we don't have the great Christmas season to look forward to boost the enthusiasm to a the fever pitch we have had. Another indicator that signaled a reversal was the candlestick indicator. This can often give clues to market tops or bottoms. Yesterday we saw pretty much the opposite of the movement of JAN 8th. This was a blow-off to the downside, which brought in renewed speculation. The RSI indicator was useful in this situation because it showed a significant divergence that indicates that some filling is necessary - sell off was overdone short-term. My guess is that we will not see a return to the previous highs unless there is some startling information that comes out during Amazon's press release and cc.