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

To: Jan Crawley who wrote (47873)	3/29/1999 12:57:00 PM
From: Sarmad Y. Hermiz	Respond to of 164684

Jan, >> Like it or not, I am here to discourage you from being too aggressive and/or too greedy... Please continue, and make me explain why I did what I did. Here is the reason. The price level dropped below the gap very quickly. Trading volume dropped very very quickly. It means to me large holders sold 3 million shares to retailers at the start, then demand dried up. Now large holders are managing the supply to keep the price from dropping. But what will happen later this afternoon ? Daytraders will hold only in expectation of more good news tomorrow. Besides they bought till they are full. If they give up on a gap up tomorrow and start selling, who will buy from them at 150. I think nobody. So I think there is a reasonable chance amzn will drift toward 140, especially if there is any selling in the nasdaq index. Of course if nasdaq gets a surge, the opposite will happen.