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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 234.37+0.2%3:59 PM EST
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To: Sarmad Y. Hermiz who wrote (50006)4/12/1999 11:27:00 PM
From: Greater Fool  Read Replies (1) of 164684
 
<sorry to omit your name here. Don't like to call anyone a fool>

The price action in internet shares reminds me very much of tech stocks in Sept 1997. I think they all went to record highs. Then a few months later they were off 50% to 80%.

GF is fine. I took the name in honor of the masses rushing into the market. GFs = Good Friends?

There will be volatility in any prices that are not driven by clear fundamentals. However, the internet stocks have the feature -- unique among tech stocks -- that they are both snazzy and techy yet touch everyday people. (Tech-illiterate people log onto AOL or use Yahoo as their portal. It's friendly and fun. Not so with Cisco or Intel.)

The boom in radio stocks in the 1920s holds some parallels, but there was little individual ownership of stocks at that time. Individuals seem to be incredibly resilient and risk tolerant (just look at the folks on this thread, tolerating 5% daily swings).

IMO, what will undo the market is IPOs or releases of stock (e.g. Softbank's holdings in Yahoo) that come faster than new investors are willing to put money in the market. I don't think the market will deflate on its own; people simply don't feel like they have that many other options for their investments.
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