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

To: Gary Korn who wrote (5872)	6/13/1998 5:56:00 AM
From: JBL	Read Replies (2) \| Respond to of 164684

I am a new member of SI, and would like to submit the following to the thread. For the past few years, investors have become more and more liberal in their approach of fundamentals of internet stocks, mostly because the bull market as been so strong and prolonged. This being said, investors (or at least those that count -institutions and funds-) are still very conscious of the level of risk associated with these stocks. Their tolerance for risk will be greatly affected by any prolonged period of stagnation or decline in the market. I now live in Asia and believe the confirmation of Japan's recession this Friday is tremendously important for internet stocks, as this news will almost certainly lead to a few months of market stagnation at best, or world recession at worst. The future of AMZN, YHOO, AOL, XCIT etc.. stock price is much more dependent on how serious the Japanese situation is, and how fast it develops, than on the numbers these companies produce. I am right now 90 % cash and rest in AMZN Jan 99 Puts.

To: Gary Korn who wrote (5872)	6/13/1998 8:17:00 PM
From: gbh	Read Replies (2) \| Respond to of 164684

Hello Gary, I'm in basically the same position as you but with only 300 shares. Went short at 45 just a few days ago for 200 shares, and promptly got whacked for 4.5 points at which time I boxed myself in (at a second broker since Datek won't allow this). Shorted (and longed) another 100 at 52. Have traded a few times off of it to get little over 1 point back. I still think the stock is going up from here in any kind of a strong market. I'll continue to try and trade a for half points here and there. But I want to see a good 10% or more fall on seriously negative news before I unwind the long. Until this happens, I feel its just too dangerous to be naked short. The stock has so much downside potential, I think even if I miss 10-20% of it, I'll still make out very well. BTW, Datek seems to have many short shares available. Both my short orders were filled instantaneously. Gary