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

To: Peter V who wrote (6844)	6/20/1998 5:11:00 PM
From: H James Morris	Read Replies (2) \| Respond to of 164684

Peter, you wrote<Don't get me wrong, I've used Amazon myself a couple of times,> Me too. Actually what's funny is, at a realistic stock price, I thought Amzn was wonderful. Wow, go out on the Internet, buy any book you want, pay almost Amzn's cost, pay no state sales tax, get the book delivered to my door, not use any gas. No, I loved the Amzn concept and would love to have been a buyer of the stock for the first year after its initial IPO. Unfortunately for me, by the time I got around to maybe buying their stock, I felt it was grossly overvalued, so I decided to pass, until it got to $95ps. After looking and analyzing Amzn to death, I decided that this hot air balloon was the best short candidate I had seen since Presstek. So I shorted 3000shares (no margin). The high short interest only confirmed that I was not the only investor in America that had similar thoughts. So the rest is history. Amzn gets down to 78-79, splits @ 80, so I am now the proud owner of 6000 shares @ $40 the day of the split. I feel very comfortable and, since its a long time since I saw a short squeeze (Iomega, on the way up), I never gave a short squeeze happening to me any thought. Looking back, I should have been very suspicious, when I read in the Seattle Times that Jeff Vink was rumored to be accumulating Amzn's stock. What really killed me was, I never thought the momentum investors (Msdw,Merril,Trotstor, etc, etc) and finally the retail Mo's like Dr. T. would also jump on the hype. I covered @ 50, bought some oct/jan puts, and we will just have to see how the dice roll. If I had my way all over again I would have taken my $285,000.00 and done something much more conservative! Like go over to Las Vegas and put it on a crap table. Shit, I might have met Dr. T or Mark Fowler over there.