Interesting post, OC.
<So Amazon the stock (tm) is going to quickly deflate. Notice how yesterday's volume
was the lowest since June? You know why? It's because all those same retail investors
who normally churn away at Amazon trying to catch those 10 point swings have
decided to move onto the next "hot" thing. The volume from ebay and theglobe and
earthweb literally subtracted directly out of Amazon.>
< It seems there is a relatively large pool of "retail internut cash" that is flowing from stock
to stock, like a swarm of locusts jumping from field to field, leaving nothing in their
wake.>
< This is exactly the sort of problem international markets have- capital tends to flow from
one region to the next, and recently it has been flowing a lot faster than normal- that's
what destroys markets like indonesia, etc..>
< And now that same behavior is going to kill internet stocks.>
Another way to view it would be that amzn is transitioning from a speculative internet stock re: ebay, tglo, ewbx, etc., to (heaven forbid!) a blue-chip internet stock re: aol or yahoo (heaven forbid!)
For example, aol stock appreciation hasn't been all that exciting for me relative to other inets this past month. Perhaps it's beginning to behave more like an msft or csco, a stock that you cannot expect too many quick swings from, but which you can expect regular price appreciation over time. If amzn is joining aol in this group, many of us might be thankful..... Rob |
