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

To: GST who wrote (157450)	5/23/2003 8:56:05 PM
From: Victor Lazlo	Respond to of 164684

The value of the dollar is a significant factor for both EBAY and AMZN. Don't think it is so important for YHOO. But AMZN can cover up a lot of operations and business model problems with a weak dollar.

To: GST who wrote (157450)	5/23/2003 10:44:40 PM
From: Hungry Investor	Read Replies (2) \| Respond to of 164684

GST, I agree with your bubble valuation comment - so much so that I bought some October puts with at $30 strike. The real question is - what will it take to realize the real value of these companies? Several bankers have lowered their ratings on these stocks due to valuation concerns, but they continue to enjoy the gains of the rest of the market. I am assuming that we will have a summer tech doldrum. I wonder how many of the folks on this thread remember what this was (pre '98). Puts are a nice way to play this angle , IMO. I am very informed on the issue of stock options and agree that they should be expensed. This significantly reduces these companies earnings as you have mentioned. However, I'm a bigger believer in analyzing cash flows. If you look at this metric, these companies perform poorly. Best of luck to you in your endeavors here. H.I.