Amazon.com, Inc. (AMZN) Message Board

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

AMZN 239.06

+0.4%

3:59 PM EST

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To: Jan Crawley who wrote (18086)	9/23/1998 9:15:00 PM
From: OtherChap	Read Replies (1) of 164684

> But why did you short so much at one time? You are making me >think!! To short or not to short; 500 shares and hold them "forever" >if necessary! I shorted so much because quite simply there is no rational justification for Amazon's runup. If you overlay a chart of AMZN, XCIT, and YHOO for today they are 100% exactly the same, except for the underlying price. The dips and rises overlay completely, which shows that AMZN is attaching itself to the coattails of XCIT and YHOO's good news.. (yahoo will turn a small profit, XCIT now predicts they may make 1 cent a share by the end of the year) But of course, there was no good news for AMZN. It just went up along for the ride. Everyone knows the October "earnings" report is going to be devestating for Amazon, but for the short term the MOMO players are in control and the under-capitalized shorts are being slaughtered with margin calls and adding to the panic-rise. This silliness could well continue until AMZN releases earnings. However, any sane Amazon insider will (correctly) see this runup as a golden opportunity to get out with insane profits and retire to the Bahamas. (oops, I meant to say "diversify their portfolios") The two companies that Amazon just bought were paid for entirely in stock.. Imagine if you were the CEO or a major shareholder of one of those companies. When the deal was made, the stock was at 140. Two weeks later it was touching 65. They saw half of their "purchase price" disappear and I'm sure there was a lot of heavy drinking. If there is any way possible for these guys to sell their shares now (i don't know what the lockout period was) they will do it.

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