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Jim, I'n not sure if I'm on the "chart e-mail list"
although I've been on the RT list for a year but
please send me the AMZN.GIF.
I have used AMZN and found their service excellent.
P/E and other ratios are incredible, worse than
what NSCP had in its glory days after IPO so
caution is advised. I've put on a small position
with a long term outlook.
Stan Rubenstein
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> From: Jim Greening <jimginva@xxxxxxxxxxxxx>
> To: Metastock <metastock@xxxxxxxxxxxxx>
> Subject: Weekly Pick
> Date: Saturday, June 06, 1998 9:09 PM
>
> All,
> Another interesting week! I opened my U.S. Air position Monday,
> but was stopped out of my IFMX stock and my MADGF LEAP call positions
> so am almost 80% cash. Right now I only have MER and U stock
> positions and LEAP calls on CPQ. I looked at the indices long and
> hard, but didn't see any reason to change my strategy. I'll continue
> to ease back into long positions at only one new position for week.
> I'll concentrate on
> larger cap, market leaders for now. This week I'm going to add a
> little spice to my portfolio by moving into the more volatile internet
> group, but will pick a stock that actually has some revenues, is the
> leader in its niche, and has a good reward/risk ratio. After a lot of
> looking, I chose Amazon (AMZN).
> AMZN split 2 for 1 last week and closed Friday at 44 1/4. It is
> in an Intermediate Term Up Trend Channel (ITUTC) with the top at 59
> 1/8 and the bottom at 41 3/8. It has been in an intermediate and long
> term up trend every since it became public and had enough data to
> establish those trends. AMZN went public in May97, moved sideways for
> a couple of months then began its climb to the top of the ITUTC and an
> all time high of 49.9375 on 4/14/98. From there it moved mostly
> sideways, but also slightly down to the bottom of the ITUTC on
> 5/27/98. It bounced up on good volume and then paralleled the bottom
> of the ITUTC to it's Friday close. The Tema PDI-MDI are still
> negative, but are moving up from a negative peak. The other
> directional movement indicators also look like a short term up move is
> due. This is a high risk, volatile concept stock with extremely large
> revenue increases, but no real earnings yet. The fundamentals aren't
> as good as I'd like with the Price/Sales at 9.1, and the Debt/Equity
> at 3.9, but this is offset by the 88% insider ownership and over 800%
> annual revenue growth. I'm going to open a position at the open
> Monday. I'll set the initial target just under the top of the ITUTC
> at 59 and the stop just under the bottom of the ITUTC at 40 3/4 which
> will give a good reward/risk ratio of over 4.
> I'll send a AMZN.GIF chart to everyone on the chart email list.
> If you aren't on the list and want on, just yell.
>
> Jim
>
>
>
>
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