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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 222.69+0.1%3:59 PM EST

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To: Jan Crawley who wrote (61151)6/8/1999 10:34:00 AM
From: Sarmad Y. Hermiz  Read Replies (4) of 164684
 
>> With our "huge" long portfolios, holding 200 ebay short is the logical thing to do.

Jan,

Let me convince you to look at eBay's FA. Active auction growth went from 70% to 60% to 30% for Q2/Q1. E per share Q1 5c, Q2 5c. Num shares increasing. Float tripled. But the main thing is P/E is not getting any better right now. And if auction count growth stays anemic, next year forecasts of 41c/shr will have to be decreased. Though that is not clear at the moment. But the trend is pointing that way.

These are all the arguments that were made about Amazon, and were scoffed at. Then out of the blue, amzn had a 60% drop. If that is good enough for amzn, it is good enough for eBay.
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