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Strategies & Market Trends : Roger's 1997 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: Dan Ross who wrote (6395)	11/2/1997 10:05:00 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 9285

Dan, do not misunderstand me, I do not like buying stock at 7 times sales, it is just that AMZN is not the worst of those selling at 7 times sales. As for Business weeks' comment. I find it strange that a company increases it's AG&A at such rate that sales have to double. Usually, when sales double, SG&A become a smaller percentage of the expenses. Of course, it is possible that AMZN decided to shoot themselves in the foot, or tool up for the next level of sales which they expect to be ten times current sales, then I could see infrastructural costs outrunning the sales rate increase. I am not in this stock, (looked at it and decided it is too rich for my blood on the long side), thus I have not fully digested all the details of their business plan. By the way, as for not having stock available for shorting, I remember the same comment when CYRX hit the low teens last year, I jumped in with both feet on the long side. I do not like to be with the crowd, and this fact itself states that too many people are short that stock ansd any small good fortune could result in a squeeze. Just my two cents. And it is barely worth that much. Zeev