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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 244.41+0.6%Nov 7 9:30 AM EST

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To: Tradegod who wrote (64496)6/24/1999 9:37:00 PM
From: GST  Read Replies (3) of 164684
 
Tradegod -- Scenarios 1 and 2 1/4 or 1/2 point -- not the central issue. The die is cast.

Scenario 3 -- any further deterioration of bond market. Critical.

Driving forces and implications:
a) Foreign money is leaving the bond market
b) Greenspan wants everybody out of the pool for a while, so he is draining it for spring cleaning -- wants to get this done before Y2k paranoia sets in. Could care less about economic data. Wants to do 'scheduled maintanence' and nothing is going to stop him now.
c) US money managers will sit on their hands until we get to 6.25 to 6.5 range on the long bond. Then US money will replace foreign money in the bond market -- shifting from stocks to bonds. Then everybody is happy -- unless you own stocks in general or techs/nets in particular -- ie. most people on this thread. Downside 10% next week and another 10-15% the flowing couple of weeks as people leave for the summer and say 'screw this'.
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