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

To: Rob S. who wrote (47423)	3/26/1999 2:06:00 AM
From: Kailash	Read Replies (1) \| Respond to of 164684

Rob S - You write, "I think Amazon will make another stab at 142 and will break through it within the next 2-3 weeks if the market doesn't turn sour. The added factor that will likely set it over will be the fact that we are almost through the earnings disappointment announcement period and will start seeing a higher percentage of favorable earnings reports." Another stab at 142 certainly isn't much of a stretch; with any luck we'll have a gap up in the morning. I don't see any evidence we'll break out of the trading range, however - at least not based on anything coming from Amzn. The big net stocks all danced to the tune of the indexes in the past couple of dramatic days, so I suppose if there is another lunge towards 10,000 and the market succeeds in breaching it, then Amzn will cross its own Rubicon of 150. Chances are, however, that this is just market churning - distribution at the top in preparation for a downturn. I'm particularly intrigued by your suggestion that we "will start seeing a higher percentage of favorable earnings reports" - from whom? Everything we've seen so far suggests first-quarter earnings will be dismal. Kailash