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

AMZN 220.66

+1.6%

3:59 PM EST

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To: Steve Andrew who wrote (19508)	10/1/1998 11:02:00 PM
From: Greg Jung	Read Replies (1) of 164684

I've heard of random short attacks, as admitted by James Cramer when he bragged about going long a stock that just had bad fundamentals w/ high short interest. But internet stocks I couldn't understand. This is the only story that makes sense. Do you suppose that Jupiter Communications has any affiliation with such traders as Vinik's ilk. This seems to be a major source of encouragement to the sector. Actually, the thought of such people with billions of dollars to strew around in such a fashion could explain the most baffling aspects of extraordinary price rises and mysterious drops of ordinary stocks, the "I love you" stocks such as today. When after through so many market downturns we've seen CSCO solid, MSFT inch up, DELL enhance its multiple by 10%, etc. Today may have been a partial liquidation of hedge funds on the tight ropes, as Rep. Jim Leach spoke we had Csco drop 5 (PE=75) MSFT drop 5, Dell drop 5. Just a slight threat of turning on the light and the cockroaches scatter!

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