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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 233.23+1.8%12:59 PM EST
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To: Danny who wrote (110889)10/20/2000 5:06:14 PM
From: Eric Wells  Read Replies (2) of 164684
 
Those "war is imminent" kind of posts are pre-mature.

Danny - I'm not claiming war is imminent - but peace certainly isn't imminent either. The first pan-Arab summit in several years is happening this weekend in Egypt - apparently all Arab leaders will be in attendance, and the topic of discussion is the Palestinian-Israeli situation. I see the whole situation as being highly unstable - more unstable than it has been in years. Don't forget that the cease fire was to begin today - and it didn't. Before going into the cease fire negotiations earlier this week in Egypt, Israel was on the brink of using all-out force against Palestinian rioters. Well, now we're back to where we were before the peace negotiations - back to last Friday in essence. The market may be immune to international instability - but not everyone is basing investment decisions on technical analysis these days. In this environment, discussion of the 3000 level vs the 5000 level doesn't make a whole lot of sense, in my opinion - and don't forget that 5000 is a rather tenuous target to even discuss, as the fact that the market even reached that height this year is an anomaly in itself. I'm nervous right now - and yet I don't own any stocks (I owned some call options going into today - but replaced those with puts at the end of the day) - and I didn't suffer much from the 1500 point Nasdaq decline this year. I hope for peace - but everything I read and hear tells me that war is the more likely outcome. I hope I'm wrong.

-Eric
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