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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 233.05+2.9%Jan 5 3:59 PM EST
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To: craig crawford who wrote (14421)8/23/1998 6:48:00 PM
From: OtherChap  Read Replies (1) of 164684
 
Cramer takes short position in Amazon! It's the lead story on his website. He states that he has taken up a position in the october puts... and this guy is almost disgustingly positive on EVERY internet stock. For him to suggest Amazon is in trouble could cause this stock to plunge deeply on monday. At the very least, it will cause the MM scammers to dump those large blocks of shares they bought last week that drove up the call prices and killed the august puts.

Remember what caused netscape's stock to collapse? Microsoft entered the browser market and was willing to accept losses in its Internet Explorer division in order to crush Netscape. It worked, and netscape stock plunged more than 70%. Now it seems that Barnes and Noble is going to do the exact same thing to Amazon. This quote from thestreet.com spells it out:

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By off-loading BKS.com it will have a vehicle that can really put it to Amazon on a price basis with the expected losses being broken out to its BKS.com sub. It is almost in BKS' interest for BKS.com to do poorly. In that it can hurt Amazon, which is taking huge online market share, without damaging parent BKS' buzz.
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For once, I agree with Cramer. Amazon has nowhere left to go but down.
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