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

AMZN 222.42

-0.1%

3:22 PM EST

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To: Mark Fowler who wrote (5473)	6/10/1998 11:26:00 PM
From: zebraspot	Read Replies (2) of 164684

Anyone who can write a story that posits that reality-challenged, earningless concept stocks like AMZN are defensive ports in a storm has never been through a bear market -- come to think of it, most people today haven't. And, since when are books and CD's non-discretionary spending? When the market catches a cold, these little concept stocks usually keel over dead (in '72-'74 most speculative little growth stocks lost more than 3/4 of their value) A big correction/bear market will really be an interesting, um, paradigm shift, for those who only know two directions for the market -up and UP! Ed Yardeni (http://www.yardeni.com/y2kbook.html) is projecting a 70% chance of a serious '73-style recession starting as early as later this year. He thinks the market starts discounting this grim event any time now. He's a former perma-bull with a tremendous track record over the past decade or so.

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