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

To: Bill Harmond who wrote (73107)	8/11/1999 4:53:00 AM
From: KeepItSimple	Respond to of 164684

Ok, my jaw just dropped. I can't believe I just read this from the biggest internut bull on the planet. Cramer calls the current net-mania a "charade" thestreet.com Was the whole dot-com thing a big fraud? Was it just a sham created by investment bankers and venture capitalists to take advantage of the new massed powers of online traders? Were people simply voting for sites rather than investing with dollars? Wow, that's a mouthful of bogus, isn't it? As we have watched TheStreet.com Internet Sector index (the DOT) take a beating and new issues from Ask Jeeves (ASKJ:Nasdaq) to TheStreet.com (TSCM:Nasdaq) be the butt of many jokes, one has to wonder whether this movement wasn't the work of some mad geniuses trying to separate people from their money in a newfound way. I know after reading my third straight beating at the hands of Alan Abelson in Barron's this weekend -- this one without the dignity of my name and mistaking me as the proprietor of TheStreet.com -- I had to wonder myself about whether our revolution was simply in our own minds and our own dollars. I can't speak for other dot-coms. I don't want to get into the head of why Mike Ovitz loves dot-coms or whether I can't decide if Disney (DIS:NYSE) likes its dot-com or hates it, as it has flip-flopped so many times. I don't know if we need hundreds of online bookstores and office supply and drug stores and search engines. I do know what the stock market thinks: This move is kaput. Only the constant queue of underwritings and the refusal of the analysts to downgrade keeps the charade alive.