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Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: Rob S. who wrote (63095)	6/17/1999 2:38:00 PM
From: Sam Citron	Read Replies (2) \| Respond to of 164684

Rob, I simply felt that in the aftermath of the damaging Barrons article AMZN would trade down to major support at 90 before the "true believers" would step up to the plate. But I had not expected the entire internet sector to sell off to the extent that it did. However, even a casual perusal of the charts indicated that most of the bellweathers like YHOO merely retreated to retest major support (at 120 for YHOO). Market psychology on the part of the major net companies on Monday was about the bleakest I had seen it in quite a while. The CPI was not a big part of my calculations. I'm glad that people remain obsessed about inflation, because such vigilance helps to ensure that it wont happen. As Greenspan said today, liquidity is the bigger concern at present. The Fed injected a lot of liquidity into the system last autumn in response to the Asian, Latin American, and Russian financial crises. Now that these economies are slowly on the mend, the question is whether now might be an opportune time for the Fed to deflate the balloon a little bit. The person to congratulate is KIS, not me. Although I enjoy sparring with him, I believe him to be an outstanding trader. I really am not a market timer at all. In the short-run it's all just psychology. In the long-run, however, intrinsic value is paramount. Sam