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

AMZN 228.29

+0.7%

11:53 AM EST

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To: Glenn D. Rudolph who wrote (47033)	3/23/1999 7:57:00 PM
From: GST	Read Replies (3) of 164684

Glenn-- re: market drop followed by net crash. Net stocks ride momentum -- liquidity driven, supply constrained, hyped-up momo. When that breaks they go down. It is going to break with a downturn in the market, which is why I mention the overall market so much. A liquidity squeeze will begin again to undo the overall market, and there has been a big jump in IPO supply combined with lots of corporate debt issued recently. The whole market is growing tired of growth stocks that don't deliver the growth anymore -- not to mention the hyped-up dog poop pretending to be stocks in the net sector -- all will conspire to pull the rug out from under the net stocks. The market does not know what to do now that the momo is dying. It goes up more out of habit than anything else -- witness the last month. The habit is getting old. Lighten up a little.

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