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

To: Glenn D. Rudolph who wrote (45636)	3/14/1999 9:42:00 AM
From: Sarmad Y. Hermiz	Read Replies (1) \| Respond to of 164684

Glenn, >> I suspect that had the tech sector of the market been strong, Blodget's call might have had a lot more effect. << The minute chart for Friday shows close correlation between amzn and the nasdaq composite. But that is exactly the point. AMZN is following nasdaq, and not Blodgett. Last December Blodgett's 400 target had an immediate, sustained and uninterrupted upward effect for 3 weeks raising the stock from 230 to 600 on volume that turned over the entire float daily. Then, in mid Feb, his last report for Oppenheimer reversed the slide from below 90 to 134 in uninterrupted 8 days, on volume approaching 20M shares some days. This time, the old rocket ignited then fizzled. AMZN closed where it was 2 weeks ago. Volume is very low at 5M. Jan says without panic short covering, there is not enough fuel for the rallies. I agree with her. So I will try the box approach next week.