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


To: Sarmad Y. Hermiz who wrote (47062)3/23/1999 8:18:00 PM
From: Glenn D. Rudolph  Respond to of 164684
 


Techs in an awful mood

BellSouth warning hits telecoms, TI concerns
hit chips, as techs head south

March 23, 1999: 5:24 p.m. ET

NEW YORK (CNNfn) - A once high-flying technology
sector turned into Wall Street's albatross Tuesday, as
investor fears cropped up about personal computer sales.
Computer chip makers and telephone companies led
the decline, after earnings warnings and analysts'
concerns took a toll.
One of those for whom the earnings bell tolled was
the big Southeast phone service provider BellSouth
(BLS), which plunged 2-13/16 to 42-3/4, after warning
additional spending to build out its data and wireless
businesses will hurt profit growth in the first half of the
year.

cnnfn.com



To: Sarmad Y. Hermiz who wrote (47062)3/23/1999 9:27:00 PM
From: H James Morris  Read Replies (2) | Respond to of 164684
 
>>I tried to buy amzn at 118, but no fill. I did buy 100 at 124 and 100 at 122.<<
Sarmad, I'm not in the advice giving business but why are you adding to your longs in a fearful market?
Box your longs and let your shorts run free.
>>AMAZON.COM INC(AMZN)
Bid: 119 3/8 BidSize: 10 Open: 128 5/8
Ask: 119 7/16 AskSize: 8 Close: 132
Last: 119 3/8 High: 129 7/8 Div.: 0.00
Change: -12 5/8 Low: 118 Yield: 0.00
A.High: 199 1/8 P/E: 0.00 Volume: 5608500
A.Low: 12.859 EPS: -0.81 Market :NASDAQ NM
Tick: Down<<
Resistance is @ 99. That's when you have to make your call.



To: Sarmad Y. Hermiz who wrote (47062)3/24/1999 12:20:00 AM
From: Rob S.  Read Replies (1) | Respond to of 164684
 
That is in a rising market - now that we are entering a sideways (at best) or down phase of the market Amazon will take some time to look attractive again, IMO. The MACD looks lousy and some of the other indicators have deteriorated with the recent decline. It is not the most bearish case among the high flyers but I would not advise being long - at least not yet.