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

AMZN 234.36

+0.2%

3:59 PM EST

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To: hsg who wrote (69786)	7/26/1999 7:40:00 PM
From: GST	Read Replies (3) of 164684

hsg -- gold? long term yes. short term, I think yes also. It is the perfect place for the speculator in the post-net investment world. Right now there is tremendous leverage in gold -- from going short and selling it. This, along with the yen carry trade, will be in an unwinding stage if the US dollar has peaked -- which seems to be the case. There are different kinds of shorts in this market -- the speculative short position is something like 3,000 tons -- which should help put the BOEs 25 ton recent sale into perspective. The interest rate on gold -- the cost of being short -- is going up. The risks of being short are going up. There is a large short position. There is global currency risk. And there is more demand than supply. It is always hardest to buy at the bottom in part because it is so hard to believe you are doing the right thing. Just as hard as selling your old favorites -- here we call those stocks 'the leaders'.

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