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To: oldirtybastard who wrote (34519)	11/7/2000 11:42:15 AM
From: rolatzi	Read Replies (2) \| Respond to of 436258

Don't look now but AMZN is up 6%. Only 47 days left to short until XMas. Ho, Ho, Ho.

To: oldirtybastard who wrote (34519)	11/7/2000 12:22:06 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 436258

well...a simple measure of the success or lack thereof of this buying is whether prices will be higher in the future. imo it is reasonable to assume that a stock is a buy after a 90% decline from the highs if you are reasonably certain that the co. will survive and prosper in the future. consider RCA's decline from the 1929 high as a proxy for the internet stocks. buying it after the first 90% hair cut was still a bit early, but not by much. this is my rather simple-minded approach to the issue...when i saw e.g. DCLK trade a mere 3 bucks above its cash per share levels, i bit. clearly the final 10-20 bucks of the decline was a combo of tax loss selling and margin calls that presented an opportunity. since the stock went from around the 30 level to 10 in more or less one go, there's no chart resistance until 30. it's a no-brainer imo, as it is highly likely that this will be one of the survivors of the dot-coma carnage. there are a host of other, similar examples. it was a great contrarian bet to buy the carnage. of course, there's a measure of luck involved too, as most of the stocks in the sector went much lower than most people probably thought they would.