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

To: Tom D who wrote (6220)	6/16/1998 4:46:00 PM
From: Oeconomicus	Read Replies (2) \| Respond to of 164684

Ah, some things we can agree on. First, BKS wasn't trying very had prior to the current Q. Unfortunately, we won't know how BKS' Q2 went until about a month after AMZN reports. Second, I also have no confidence in predicting the next move unless it's by use of a two headed coin where heads means up. Since most of my puts are about to expire worthless, I'm essentially a spectator now. Unless it crashes big time by Friday, I'd just a soon see it at $100 giving me more profit potential if I reenter - except for one thing. I'd really hate to see mindless momentum investors rewarded further at the expense of those who can read a financial statement and understand earnings projections. Just a pet peeve of mine. That's not directed at you or certain other long-term holders of AMZN as I know you can grasp the valuation question. I just think you put way too much faith in the "Mr. Market knows all" theory. Speculating that this rally is due to any fundamental expectations among investors is a good example of what I mean. Expectations about anything other than the stock price itself are irrelevant at this point. It's simply a buying panic - shorts covering in panic and those rushing to buy whatever is up (so little is these days) on the most volume for fear of missing out. It is those who fool themselves into trying to justify the unjustifiable that will be left holding the bag. There will be no liquidity on the downside, BTW, so many more will suffer the fall than get out near the top. Bob PS: Anyone want to start a pool on the June short interest (measured as of yesterday's close)? I'll kick it off with a prediction of 2.8 million (it was 4.3 million last month).