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

To: hal jordan who wrote (3574)	4/28/1998 4:31:00 PM
From: Olu Emuleomo	Read Replies (1) \| Respond to of 164684

This is a $70 stock. You are correct, the mania cannot last. The only problem is can the shorts hold on while the mania rages on? That is the question. --Olu E.

To: hal jordan who wrote (3574)	4/28/1998 4:39:00 PM
From: zebraspot	Read Replies (1) \| Respond to of 164684

Put strategy/Taxes My understanding is that the "wash rule" that normally applies to taking a loss in a stock (you can't get a write-off for the loss unless you had waited at least 31 days before buying it back) does not apply to options - if you buy back a different strike price and/or expiration For instance, if you now own the Jul 60 puts at a big loss, sell them, take the tax loss, and simultaneously buy the Oct 80's. Bingo, you've got a good write-off, and you've rolled over your position at a more favorable price point and with more time. (Any dissenting opinion on this tax strategy?)

To: hal jordan who wrote (3574)	4/28/1998 6:02:00 PM
From: J.S.	Read Replies (1) \| Respond to of 164684

Hal, I just checked and there are no May 70's. This is because AMZN is on the April July Oct Jan cycle. The May 70's may have to be introduced if needed. We can always hope! Anyway this may cheer you up a bit: Tuesday April 28, 11:46 am Eastern Time Dow trims most early gains, sell-off seen resuming NEW YORK, April 28 (Reuters) - U.S. stocks pared early gains Tuesday after a short-lived rebound from Monday's steep sell-off on fears of higher interest rates. At 1132 EDT/1532 GMT, the Dow industrials were up 15 points at 8932 after touching a high of 9006 just after the open. The New York Stock Exchange lifted program trading curbs at 1122 EDT. The tech-heavy Nasdaq was also losing ground, up 13.89 points to 1834.20 but well off earlier highs. The S&P500 was up 3.05 points to 1089.59. ''It was just a dead cat bounce,'' said Lance Zipper, head trader at Brean Murray & Co. Zipper said he expected the market to turn lower again. ''We are going to have a little more of the sell-off,'' he said. Some market analysts were predicting a five to ten percent correction in the market from the Dow's recent highs around 9200. Stocks took a beating on Monday after a Wall Street Journal report said the Federal Reserve was now leaning more towards raising interest rates than cutting them. The story raised fears of higher rates at a time when many were already worried the market was overvalued and due for a pullback.