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

To: Bill Harmond who wrote (87102)	12/11/1999 1:31:00 PM
From: Eric Wells	Read Replies (1) \| Respond to of 164684

All this talk of a top or bubble in the market is nonsense. William - I beg to differ. The explosive growth in stock prices in the narrow sector of stocks that are expanding shows all the evidence of a mania. If you don't believe this, I would recommend you read accounts of past investment manias (Devil Take the Hindmost by Edward Chancellor provides an excellent summary - can be purchased on Amazon). I'm not saying the bubble will burst - I have no idea if it will. But for you to say that our current markets show no evidence of a mania or a bubble - well it's nonsense. Your posts make it appear as though you've adopted a strategy of never saying anything negative or cautionary about internet or b2b stocks - so as to not contribute to any possible negativity that might calm the mania. But your ever-optimistic posts call your objectivity into question (at least in my mind). Regarding the money supply issue. I want to make sure I clearly understand what you are saying. Are you saying that the Fed increasing the money supply has no impact on the economy? Do you disagree with the following two statements: 1. Recent increases in the money supply may actually negate the impact of recent interest rate rises instituted by the Fed. 2. Fed increases in the money supply through bond repos may have provided banks and financial institutions with extra money to put in the market over the past two months. Thanks, -Eric