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

To: Glenn D. Rudolph who wrote (57870)	5/21/1999 10:45:00 PM
From: Bill Harmond	Respond to of 164684

I know what the congestion is!!! :) Feel better.

To: Glenn D. Rudolph who wrote (57870)	5/22/1999 8:31:00 AM
From: Wayners	Read Replies (1) \| Respond to of 164684

Dick Dickson, a technical analyst with Scott & Stringfellow tackled the question of what constituted a correction for an Internet stock, using Amazon.com (AMZN:Nasdaq) to illustrate his point. After reaching a high of 221 1/4 on April 27, Amazon.com fell to a low of 121 1/2 on May 17, a drop of 45%. Dickson said the stock has already corrected more than two-thirds of its move from the February low of 84 1/4 to the 221 1/4 April high, and that it's vulnerable to another 10% to 15% loss. But looking even further out from when it was trading around 40 in November of last year to the 221 1/4 high from April, the stock has only lost around 50%, he said, and it may attempt to hold at that point. Amazon.com was recently trading down 4 15/16, or 4%, at 125 7/8, which is below the 50% retracement level Dickson spoke of, suggesting it could go to the two-thirds level at around 110.