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

AMZN 227.37

+0.3%

3:59 PM EST

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To: MR. PANAMA (I am a PLAYER) who wrote (6464)	6/17/1998 5:53:00 PM
From: Tradegod	Read Replies (2) of 164684

Perhaps a moment for simple analysis is in order for the shorts. 1. No doubt that the squeeze has contributed to this. This large cap stock has been almost a double in a week, on no significant news. Moving into the music business must not be that great as evidenced by the performance of CDNW and NTKI, both down over 50% from their highs in the last 2 months. My experience has been that the more irrational it gets, the greater the opportunity to make money on the reversal. I made my first short position at 72 1/2 yesterday, and added to it at 80 today. Yesterday I had to beg for 1000 shares to short. Today plenty were available. Tomorrow there will be even more as capitulation buying freed up shares. 2. Options expiration will happen the day after tomorrow. There are 1000's of June calls that have exploded in value. Imagine buying a June 45 last week for 3 dollars, it's worth 34 now. I believe that most of the option holders will NOT exercise which will add to the derivative pressure over the next 2 days

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