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

To: Lizzie Tudor who wrote (67312)	7/12/1999 10:34:00 PM
From: Tom Kearney	Respond to of 164684

Michelle - I've gotten killed in Aug, Sep and Oct in each of the last 3 years. Last year at July end I was up 75% and dead even again on Oct 8! I still finished up 90% (thank you AMZN, YHOO, etc), but would rather not do THAT again! This year is almost the same, except I'm near 80%. e season is still early. Interest rates stayed below 6% today. I have a pack of MSFT Leaps, and sellable shares in my IRA (taxes). I'm expecting the e season to give us one more bump especially MSFT but also AMZN and AOL, if only on anticipation, and I'll sell a lot into that. IRA account goes to nearly 100% cash, margin in traditional account goes to zero, hold the less volitile taxable shares that won't likely drop much beyond the tax rate. I've been selling into strength so far. Sold 75% of my EXDS; 50% QCOM, all of VERT, a little BRCM. I'd like to have another chance to sell YHOO at 188 ;-) 'cause those are in my IRA, but that's life. I would really prefer to buy and hold; I'm sorry we don't live in a rational world where the majority of people can understand why AMZN is worth a market cap of $200B. But, I believe the silly people of the world are going to give us an immense opportunity to buy tech stocks at half price around Nov 1, and I am going to be ready to take full advantage of their largese. The excuse might be Brazil, y2K, 70th anniversary of 'the big one', etc, doesn't matter. The jerks will think of something. I truly believe the change in the weather has a lot to do with it. My tech stock strategy has always been based on the idea that non-tech people, ie most of the world doesn't really trust or like high tech because they don't understand it. And given any chance at all, they'll dump it like crazy. But, since the earnings of the great high tech companies are about 4 times greater than non-high tech (measured by growth rate, profit margin, ROE, etc) they HAVE to come back, dis-tasteful is it is to them. Thus our opportunity to massively supplement our wealth. All the best, Tom