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

To: Glenn D. Rudolph who wrote (103787)	5/22/2000 2:34:00 PM
From: H James Morris	Respond to of 164684

>I do not want my son's first few years in retailing to be during a recession. It is difficult enough. Glenn, we are not going into a recession. All we are going thru is a tech reality check. Have you noticed that bank stocks are not getting whacked? Citibank (c) the most powerful financial institution in the world...is only 5 points off its all time high. >It is difficult enough. I've always felt that retail is one tough occupation. Why do you think Amzn is getting close to its all time low?

To: Glenn D. Rudolph who wrote (103787)	5/23/2000 9:46:00 PM
From: Bearded One	Respond to of 164684

Hi, I'm back. Just for a minute. I would like to take this opportunity to further opportune people to listen to me. For what it's worth, I made a ton of money today. I hinted at this, but now I'll say it. I work for a major short seller. Some of you probably heard of him, though it is not a public fund. I still can't say his name because then people can match him with his positions, which is a no-no. He got destroyed in the mid nineties, but worked his way back up and managed gains of well over 50%/year the last 3 years in a row. That's on the short side. Think about the research abilities that have to go into that. My reason for telling you this is to enhance my credibility so that some of you will listen to me. Many of your favorite stocks are not even close to stopping their downward fall. Think in terms of 80-99 percent depreciation. Think of Amazon declaring bankruptcy. Easy enough for some of you. Now think of Yahoo closing up shop. Harder to think of? But quite possible. Now think in terms of Cisco at 10 dollars. A far more realistic price than its current price, certainly according to historical standards of valuation which we are slowly (for now) reverting to. VIGN is selling at 40 times SALES with no earnings. Pretend, for one moment, that this is the 1980s or the 70s or the 60s. Someone wants to sell you a piece of their company at 40 times sales. And they are losing money hand over fist. Would you buy it? Just get out. VIGN is not a 'speculative play'. It is a pure momentum play, that is, a complete roll of the dice at a game where the dice are loaded against you. Good Luck. PLEASE GET OUT OF THIS MARKET!