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

AMZN 204.90

-7.9%

11:20 AM EST

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To: tonyt who wrote (31549)	12/29/1998 11:04:00 AM
From: Gary Walker	Read Replies (1) of 164685

>Yep! that 1/4 pt reduction in rates is what did it! The increase in AMZN's target by 165% had no effect. Didn't say it had no effect. Certainly the internuts are piling on the smooze. I'm saying that CIBC would have caused a yawn if the Fed hadn't primed the pump. One of the clearest bullish signals are discount rate cuts. Anyone who ignored that fact has lost big time in this market. Do you think that that 300 point rise in the Dow the day after the discount rate cut was caused by CIBC and others? Without the fed over stimulus you don't have a stock market bubble and the CIBC/Mary Meekers of the world don't have an audience. gw

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