Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Jan Crawley who wrote (46386)	3/18/1999 9:11:00 PM
From: Sarmad Y. Hermiz	Respond to of 164684

Jan, >> As always, Amzn is a "shorts" story. With much larger float, if shorts are short in number and quick in covering, then new highs is a far away dream. << Makes sense. Today seemed to me very much like day trading, without consistent buying. Price was quickly established at 138, and it cycled between 137 and 140. Volume was low, relatively. The one surprising action today was that it did not open at 138, but at 132 1/2 with 90k volume. There was a large block (678k shares at 136 3/4) that came at 9:41. Then small lots took over until the end of the day. I am very puzzled that it never went higher than 140. And just to make the day trading pattern complete, the 2 PM surge, then run down at the close. But also to make matters more murky, dow and nasdaq were up strong today. Last time dow was making a run at 10k, amzn was rising to 140. I think you sold at 139. When DOW went down the next couple of days, amzn ran down to 130. We'll see tomorrow.

To: Jan Crawley who wrote (46386)	3/18/1999 9:30:00 PM
From: Sarmad Y. Hermiz	Respond to of 164684

Jan, Here is something for you. I wonder if anyone on the thread can confirm. The large block today 678k shares at 9:41 @$136 3/4 looks to be a sell. It brought the price down from 137.5 to 136 at the time. It explains why amzn never went past 140 today. But more interesting. If you remember, about 10 days ago there was a large block buy of 950k shares at 124.25. That was the day before DLJ made a positive note. Then during Henry B.'s hysteria a 300k block was sold. Today the remainder. I wonder if this elephant knows something that Banjo does not. Can hardly wait until tomorrow to find out.