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

AMZN 232.12

+1.6%

3:59 PM EST

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To: Rob S. who wrote (38187)	2/4/1999 11:13:00 PM
From: Stefan	Read Replies (1) of 164684

You might be right but too conservative. Below is an excerpt from article in Enter Stage Rite, here is a URL to full text enterstageright.com "Now all economic activity is speculative. It cannot be otherwise in an uncertain world. But there is speculation and speculation. The latter is what we are witnessing on Wall Street. It has been fuelled by the Fed's easy credit policies and is now being driven by a "quick-buck" mentality that knows it is playing musical chairs, with very few chairs but a lot of players. This explains trading volumes. Large daily share turnovers in certain companies strongly suggest that speculators are aiming at short-term profits before the boom busts. (The whole thing reminds me of "Tulip Mania."*). That the Fed realises monetary expansion is responsible for this situation was admitted by Greenspan when he pointed to the effects of the "flood of liquidity" into the US economy. "

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