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

To: Impristine who wrote (38915)	2/9/1999 2:03:00 PM
From: Rob S.	Respond to of 164684

The hurt has not yet been that much . . . many speculators will think the downfall in the high flyers is just another buying opportunity - which it may be by the end of this summer. But the real bloodshed probably won't occur for another year or two - the immediate bubble appears to be popped but the speculative theme is still there. Short term I think we have the shift in momentum that this sector has been ripe for - but I won't be surprised to see it move up after going down just 20%-30%. I don't think you can call a 30% drop in this sector more than indigestion. Nothing like the melt down that will come latter when the Internet shifts into a higher level of competition and dilution, IMO. In the meantime - this will give the bulls something to think about. BTW - Amazon is holding up pretty well - the TA showed that it has exausted some of the downward presure because it has already moved down a lot from the high of 199. The next leg of the downward move might not come for a couple of months if this plunge in the sector doesn't drop it past the 100 support level.