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

AMZN 243.08

-2.9%

Nov 6 3:59 PM EST

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To: Bill Harmond who wrote (78086)	9/22/1999 9:10:00 PM
From: GST	Read Replies (2) of 164684

William re: the 'leaders'. Market breadth peaked over a year ago -- clearly not an indication of instant doom. The 'leaders' can and have continued to lead upward and have held up the market very well. However, eventually the erosion of the foundations of the market -- as indicated by breadth, etc. -- will catch up with the 'leaders'. When the multiples collapse, they will 'lead' no more. That can happen with swift vengence. I know you have no worries, and you are not margined so far as I know -- so it is not important to me or to you if your net worth is cut in half. Best wishes.

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