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

AMZN 232.50

+0.1%

Dec 26 3:59 PM EST

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To: Box-By-The-Riviera™ who wrote (17355)	9/16/1998 2:17:00 PM
From: Rob S.	Read Replies (1) of 164684

Many who are looking for the FED to step in and save the over-valued prices of stocks are barking up the wrong tree. The world-wide liquidity crisis would be moderated to some degree by a coordinated rate drop but it makes little sense to keep pumping up the bubble bigger and bigger. The problems are real and systemic and need more pain and "rationalization" to work themselves out over the next couple of years. Greenspan and other members of the FED's comments don't surprise. A rate cut may still occur but it will be little more than a psychological benefit - still considerable in today's nervous economy but unlikely to do much to fix the structural problems of vast over-supply and declining commodity prices. That stuff will take a long time to work through. In the meantime, I expect the trend in corporate profits (or increased losses) to be down over the next 2-3 quarters. The market is likely to precede a economic recovery and some companies will excel or pull up from over-sold territory.

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