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

AMZN 220.66

+1.6%

Nov 21 9:30 AM EST

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To: Carmine Cammarosano who wrote (34502)	1/12/1999 5:20:00 PM
From: GST	Read Replies (1) of 164684

Carmine -- I have been trying to make the point that the fate of AMZN lies not with the MMs or the day traders anymore. AMZN was becoming a problem for the market because it was no longer just a little company in terms of stock price. By last Friday it was becoming clear that AMZN would be 'taken out' as an example to cool things off. Everything that everybody learned on the way up is useless on the way down because it works in reverse. That is why people who make easy money usually lose it. Ever been to Vegas to see what happens to the winners? This is most dangerous for people who 'win' the first time. They think it has something to do with them, their knowledge or their abilities and their judgement. Sell short? No. But just for the hell of it I like to buy puts -- although with the premiums it doesn't really pay. My advice -- in the long run its a 20 dollar stock. If you own and can sell it (hopefully not on a market order if it gaps down tomorrow) then my advice is take the money and run.

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