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

To: schrodingers_cat who wrote (103891)	5/24/2000 1:04:00 AM
From: Sarmad Y. Hermiz	Read Replies (1) \| Respond to of 164684

>> I suspect some of the money that has come out of tech in the last few months has gone to repay margin debt. I don't think so. Each step down brings more margin calls. The people who buy the dotcoms and all the $1.5 trillion in money losing stocks are not the kind to back off now. They think it was their brilliance that led them to buy amzn or ebay and become millionairs from it. They are margined to their ears and soon will be over their head. How soon ? July 25. Nasdaq 2500 beckons. We'll be lucky if the slide stops there. In the past 12 months Nasdaq doubled on maybe 15% rise in earnings. Now that excess appreciation will be given back. What does that work out to ? Nas 3000 ? Allow for some overshoot on the down side and that's another 20%. Depressing.