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

AMZN 233.22

+1.8%

Nov 28 9:30 AM EST

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To: Robert Rose who wrote (79029)	9/29/1999 6:52:00 PM
From: GST	Read Replies (1) of 164684

Robert sort of OT -- did you see gold in London? Traded in a 27 dollar range today -- unreal the titanic struggle going on between longs and shorts. This indicates tremendous fear that the longs will win -- and they will. You gotta wonder whose blood is being spilled as this market moves up. The general idea was 1) lease gold 2) sell the gold) use the proceeds as capital and lever 10 to 1 from banks and buy bonds. So for every billion dollars short in the gold market there could be as much as 10 billion in the bond market that must be liquidated to cover -- no wonder bonds yields are rising. A little inflation news or some market jitters -- eg. Ecuador might default on their Brady bonds tomorrow -- and whammo, we break the neckline on the S&P. What a weird world. BTW -- don't be fooled by 'logical' talk about gold prices. There is no longer a predictable ceiling on this metal.

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