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

To: Sarmad Y. Hermiz who wrote (47619)	3/28/1999 9:54:00 AM
From: Doug Robinson	Read Replies (2) \| Respond to of 164684

Hi Sarmad, The early run up was directly attributed to the CNBC announcement at approximately 9:40 AM. It was mentioned earlier at 6:30AM and bids on instinet were as high as 143 before trading hours. As soon as it was restated at 9:40 the stock was off to it's early highs after moving in the 139 to 140 range. It retrenched back for a while and moved up again when further comments were made during the morning. The first selloff took place within minutes of the announcement that two Migs were shot down while on their way to bomb Bosnia (many other stocks sold off then). In the last hour, the day traders moved out and the stock actually started to move up to the 142 range. In the last fifteen minutes the buyers sat on the sidelines (more comments from CNBC commentators on several occasions during the 3:15 to 3:45PM time period that buyers wouldn't be buying stocks due to the Yugo situation) and the stock fell to the 138 1/2 range in the last minutes. I don't think it has anything to do with Ebay (I think I'd be more concerned as an EBAY stock holder when AMZN comes in) and the earnings situation is one that everyone has their own opinions on. The abovementioned reflect my opinions of what occurred this past Friday and I don't think that concerns about earnings or EBAY were the reasons for the late sell off. Additionally, a lot of people that had picked up AMZN earlier in the week at rediculously low costs (including me) took advantage of the quick 20 percent profits that were made available in a matter of days. Of course the above is only my opinion of what occurred Friday.