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

AMZN 248.41

+1.6%

3:59 PM EST

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To: Bill Harmond who wrote (91890)	1/23/2000 5:19:00 PM
From: Dell-icious	Read Replies (2) of 164684

No surprise that you are bearish since you are fully in cash. In fact, it is such bearish sentiments combined with lack of bad news that has kept the market climbing. Your fear is that of interest rates, correct ? To me it appears like inflation is still non-existent. Pricing power is poor. Heck, in fact, VC money & lack of local taxes are subsidizing e-commerce. I continue to get cheaper goods and services over the net (from grocery shopping, to video delivery to pet food and cheaper books). Practically nothing that i consume personally EXCEPT gas has gone up in the past 6 months. If you feel that gas prices have topped, you could even get a fall off in inflation rates from their present levels in the next few months. Further the long bond is more that a full percentage point ahead of the Fed rates. It has priced in 75 basis points of fed hikes. The final thing that makes me bullish in the short term is that this is a presidential election year. Markets cannot be allowed to fail if incumbents want to get back in for 2,4 or 6 years. The stock market has never cracked in an election year. The people over in DC will do whatever it takes to keep Wall Street happy. Any drop will be a correction, not a crash. However, I would be wary of 2001 for these very same reasons. William, what economic data would it take for you to become bullish again ? thanks (and no one line responses please - we respect your opinion and that is why we try to solicit your views).

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