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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 217.15-2.5%3:59 PM EST
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To: zebraspot who wrote (5645)6/11/1998 4:52:00 PM
From: Walter High  Read Replies (6) of 164684
 
Colleagues:

It has been a tough day for AMZN shorts and I know you want to believe more than anything that this is the top and it can't get any worse. Back in early May I posted a message to this thread warning that the split would take the stock price down to a level where a lot of people might feel they could afford to buy it (as opposed to paying 100 a share which many people avoid on principle). The subsequent rise could be incredible and the last three days proved it.

I urge you not to blow the last of your money continuing to try to short this stock. As I said before, I shorted AOL at 35 when it was in real trouble and watched it go to 90 while the trouble mounted. I was fortunate to get out at 78 (this is pre-split). When it crossed 100, then jumped suddenly to 110 I was SO tempted to short again, but luckily didn't. It is now trading, of course, at upwards of 160-180 (pre-split).

Don't count on AMZN stopping here. This rally may bring it to the attention of many people and it could continue on to 80-100. Surely, you have better things to do with your money than bet it on this shell game! The MM's must look at you shorters like the guys at the carnival who are continually convinced they can find the pea under the shell the next time and keep putting their money down.

Swallow your pride and don't be stupid. It took me long enough with AOL (I blew 9 grand) and even then I blew another 2 grand trying to short-term time its rise and fall.

Walter High
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