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

To: Sarmad Y. Hermiz who wrote (54890)	5/4/1999 3:58:00 AM
From: dbblg	Read Replies (1) \| Respond to of 164684

>> But I think the down side is much lower. The 80 level may bring in some buyers. If Amazon matches its previous corrections, it could reach the high 80s. My guess is the stock stays above support in the 120s until we get the usual summer tech scare. I'm still planning on adding more in the 120s, which is close to my entry point; holding out for panic bottoms requires better timing, and larger cash reserves, than I usually have. >>The momentum buyers of the breakout do not look like such geniuses after all. Hopefully this amzn breakdown will cure this particular type of insanity. Maybe we are defining "momentum buyers" differently, but everyone I know who buys solely due to price breakouts sells at 5 or 6 percent above their fill (or 2 percent below it). Anyone who bought because of the breakout above 199 1/2 is, presumably, long gone and quite happy.