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

To: Victor Lazlo who wrote (114387)	1/5/2001 12:26:17 AM
From: craig crawford	Read Replies (2) \| Respond to of 164684

>> don't fight the tape, which continues to look ugly for the techs. << Are you going to make me have to embarrass myself? Do I have to dredge up my posts from Oct 1998 where I was saying the exact same thing you are? I was making all the same claims you are. The Fed can't fix this mess, how can one man repair the damage caused by practically every world economy falling apart? How can the Fed just waltz right in and round up billions of dollars in loans to bail out some reckless hedge fund? It just didn't seem fair to me. It seemed like the game was rigged. If Greenspan hadn't rounded up a bunch of loans and provided liquidity so LTCM could unwind it's positions slowly, we would have had a nasty nasty mess on our hands. You know what I learned? Life isn't fair. Shorts get the short end of the stick. It is not a totally free market. It is a market that is manipulated by the Fed in times of crisis, and don't doubt that he has the power to do it. Don't fight the tape? Yes, don't fight the biggest up day in history, on record volume after a successful double bottom is put in place. DON'T FIGHT THE FED (for at least a few months or a few hundred more points). It is very rare, but possible for markets to go down in spite of the Fed's best efforts. But it NEVER happens right after massive Fed easings! There is always a period of time when the market thinks the Fed can make it all better, and you get a rally. When we start getting to resistance levels such as 3000, 3500 etc then you might make a case for betting against this market, but you don't go short right off the bat when we are not bumping up against any serious resistance. And if you're going to tell me you're not short, then don't make fun of people who are willing to go long some tech to play the rally out just because you don't think it's wise.