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

AMZN 234.70

-1.2%

Nov 14 9:30 AM EST

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To: Mark Fowler who wrote (123286)	4/9/2001 5:54:05 PM
From: pater tenebrarum	Read Replies (4) of 164684

imo we are probably quite close to capitulation and an intermediate term low in the stock market, from whence a multi month rally could spring forth. for those still trapped in stocks it will be a great opportunity to get out. of course, market psychology being what it is, most probably won't. Bob Bronson (a great researcher & money manager, who frequently posts on the longwaves web site) recommends that people trapped in long positions and afraid of selling right at the low use rallies to at least sell 50% of their positions, thus solving the psychological conundrum. it ensures both participation in an eventual bear market rally, as well as increasing the 'sleep well' factor by decreasing overall exposure. note that WS's "buy and hold" mantra is of no use to investors in a secular bear market. a secular bear market prevails as long as money market funds outperform stocks...which they do with practically zero risk to boot (provided they contain only government paper, i.e. t-bills). while much depends on one's time horizon, secular bear markets are hard to stomach for anyone. who needs the aggravation?

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