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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 239.30

-1.0%

Jan 30 9:30 AM EST

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To: Jan Crawley who wrote (69180)	7/23/1999 1:13:00 PM
From: Paul Merriwether	Read Replies (1) of 164685

<< I think that "people buying net stocks" are "thinking" that it will go up a lot and people shorting are thinking that it will go down for a qucik$$. IMHO, there is nothing noble or rational about buying/shorting the net stocks, so I don't seek justifications. >> Jan Lets look at it this way. When MSFT, INTC, CSCO, GMST go down 20% I never fret. If I have spare money in my account, I buy on what I perceive to be "dips". I am sure(as I could be of anything) that these stocks will _eventually_ come back up and see new highs. OTOH, if I had a net stock that's down 20%, I would only think stoploss. The reason for that is that I can't justify their valuations, so I can't as a rational person assume that they will come back up one day. (concrete example: AMZN's high was 221. It may or may not reach that _ever_. If you bought it at 221 would you still hold it?). regards -p

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