Amazon.com, Inc. (AMZN) Message Board

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

AMZN 230.84

-0.7%

3:59 PM EST

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To: MJCok who wrote (47592)	3/27/1999 7:07:00 PM
From: GST	Read Replies (1) of 164684

MJ -- <it is dangerous to short the leaders> Agreed with all you say, except I think it is 'overbought' and due to pull back for precisely the same reasons (stock split, settlement rumors, etc.) and the premiums are ok. I sold about half my position at a profit a couple of days ago with MSFT below 165, and the other half got cut to about 40% of original purchase price. So I am down but not out on this and added back half a position with MSFT around 179. As for the dangerous market -- it is all dangerous at this point IMO. I would love to go against AMZN but have stayed away since I sold my puts at around 85 (lucky -- bought at between 180 and 185 the day before it peaked at 199). I think AMZN may have peaked again on Friday -- but I feel better about a dip in MSFT preceeding any real net damage so I will wait -- maybe till later this week.

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