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

To: Eric Wells who wrote (87099)	12/11/1999 1:15:00 PM
From: Bill Harmond	Read Replies (1) \| Respond to of 164684

>>And the rewards being paid to shareholders and executives of internet companies that are attempting to take advantage of such profit-making opportunities - well the rewards are excessive. Totally subjective. As far as the Fed and the money supply goes, the money supply expansion is a technical move by the Fed to get currency into the hands of anyone who might want it. It's a measure to maintain stability and confidence. The Fed would not be raising both the fed funds and discount rates (like they did at the last meeting) if they were trying to facilitate credit expansion. Just the opposite. Cash in people's hands actually diminishes credit because it can't be loaned by the banks like checking deposits can. There is plenty of money in money market accounts to fuel an advance in the market without needing any Fed assistance. They have seen inflows this year greater than inflows into equity funds. All this talk of a top or bubble in the market is nonsense. The market has been going nowhere. Look at the A/D lines for either the NYSE or Nasdaq. The Internet stocks, telecomm equipment, semiconductor and software stocks have been moving. It's a sector thing...all tied to the expanded use and buildout of the Internet. The Internet stocks are the leadership. When the overall market turns upward as it is showing signs of doing with this rally in bonds we're seeing, I expect the Internet sector will stay in the lead.