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

AMZN 217.15

-2.5%

Nov 20 3:59 PM EST

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To: Gary Walker who wrote (24220)	11/2/1998 11:46:00 PM
From: Jay8088	Read Replies (1) of 164684

Gary Walker <<A strong global rally will ignite Wall Street even further....there's lots of room on the global upside after years of downside...>> I doubt that the Fed's easy money policy (and stock market manipulation ) would cure worldwide over capacity and structural problems of emerging economies. What we are seeing right now is the short covering rally after a depth of pessimism and panic. The real problems have hardly been solved yet. As it stands now, the emerging economies are still contracting and are too poor to import from US. OTOH, they are dumping their low priced goods to US to pay off their huge debts. US corporate earnings would be poor next year due to this lopsided trade picture. Have we really seen the bottom and are ready to build the bubble again? Count me as a skeptic.

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