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

To: Bill Harmond who wrote (91890)	1/22/2000 11:23:00 PM
From: Glenn D. Rudolph	Read Replies (1) \| Respond to of 164684

I think the stunning move from November 1 was a blowoff caused by a breakout in The Street.com Internet Index, and that liquidity is leaving the market. The Nasdaq volume for the past few days has been astonishing with little progress in the average. William, I agree with a lot of your thoughts. I was wondering if you believe a correction here will be a long time issue or short term? Is it your opinion that the technology sector of the market is overvalued?

To: Bill Harmond who wrote (91890)	1/22/2000 11:25:00 PM
From: Greater Fool	Read Replies (2) \| Respond to of 164684

>>I wish I had held on to my genome stocks until now because they have caught the market's imagination The runup in the genome stocks is about as insane as the runup in some of the more ephemeral web stocks. Affymetrix, for example, is a rinky-dink company, with one manufacturing facility in Sacramento. If the worldwide market for the product was as large as the stock market seems to think it is, wouldn't they be building lots and lots of great big manufacturing facilities?!?

To: Bill Harmond who wrote (91890)	1/23/2000 12:52:00 AM
From: Victor Lazlo	Respond to of 164684

<<and the energy stocks aren't keeping up with the price of oil. >> That's because nobody expects oil to stay at $29 for very long. $30 a barrel has been predicted for some time now, and the predictions have included the expectation that such a high price would be short-lived. Should fall back to mid-low 20s in the near term. Earnings of energy service stocks as a group are expected to double in 2000 over 1999.

To: Bill Harmond who wrote (91890)	1/23/2000 10:48:00 AM
From: Robert Rose	Read Replies (1) \| Respond to of 164684

Are you trying out for the mda thread? <vbg>

To: Bill Harmond who wrote (91890)	1/23/2000 5:19:00 PM
From: Dell-icious	Read Replies (2) \| Respond to of 164684

No surprise that you are bearish since you are fully in cash. In fact, it is such bearish sentiments combined with lack of bad news that has kept the market climbing. Your fear is that of interest rates, correct ? To me it appears like inflation is still non-existent. Pricing power is poor. Heck, in fact, VC money & lack of local taxes are subsidizing e-commerce. I continue to get cheaper goods and services over the net (from grocery shopping, to video delivery to pet food and cheaper books). Practically nothing that i consume personally EXCEPT gas has gone up in the past 6 months. If you feel that gas prices have topped, you could even get a fall off in inflation rates from their present levels in the next few months. Further the long bond is more that a full percentage point ahead of the Fed rates. It has priced in 75 basis points of fed hikes. The final thing that makes me bullish in the short term is that this is a presidential election year. Markets cannot be allowed to fail if incumbents want to get back in for 2,4 or 6 years. The stock market has never cracked in an election year. The people over in DC will do whatever it takes to keep Wall Street happy. Any drop will be a correction, not a crash. However, I would be wary of 2001 for these very same reasons. William, what economic data would it take for you to become bullish again ? thanks (and no one line responses please - we respect your opinion and that is why we try to solicit your views).