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

AMZN 222.69

+0.1%

3:59 PM EST

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To: Gary Walker who wrote (24220)	11/2/1998 8:43:00 PM
From: JBL	Read Replies (3) of 164684

Gary, I think the party is already over... Chip equipment makers were downgraded today and signs of cuts in capital spending are surfacing rapidly and will become impossible to ignore. A crash in US markets would be so disastrous at this point that all sort of promises will be made (with taxpayers money) to keep the financial system afloat. (The bubble is no longer inflating, it is being prevented from deflating too rapidly.) The scenario I see is a gradual move back to value over a period of a few months (accelerating after 4Q earnings are in). Internet stocks with questionable valuations will be trashed. (Stocks from large oil companies should be very good buys a few months from now.)

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