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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 229.12-0.2%Nov 26 3:59 PM EST
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To: Bill Harmond who wrote (110922)10/22/2000 11:07:11 PM
From: Eric Wells  Read Replies (1) of 164684
 
Most of that is mental masterbation.

First of all, William, I'm both shocked and amazed, and a bit grateful, to be the recipient of such a lengthy post from you. This must be an SI record for you, no?

As for an oil embargo - you may be correct that an OPEC sanctioned embargo is unlikely. However, the possibility of Sadam deciding to independently turn off or reduce Iraqi oil flow is not out of the question (I believe he has already threatened to do so - but over the issue of receiving payment in Euros instead of dollars). Even additional threats from Sadam would be enough, in my view, to send oil prices back up toward $40.

While you say the Israelis have lowered their guard to recognize the rights of their neighbors - I would say that most Palestinians would probably disagree with you - or at least, that is the impression that one is left with when watching stone throwers on television. What we do know about the situation in the Middle East at the moment is that it's worse than it's been in years - and it doesn't seem to be getting any better. And if the situation continues to get worse, the likelihood that oil prices will rise, even if just out of fear, is much greater than the likelihood that they will fall.

Thanks for your post. By the way - my challenge to you to write something objectively critical about one of your equity holdings still stands (you might want to try AMZN - it should be easy).

-Eric
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