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

To: Dwight E. Karlsen who wrote (7852)	6/27/1998 5:39:00 PM
From: Michael Norton	Read Replies (1) \| Respond to of 164687

Dwight, Maybe the point is that Michael Dell is the best trader amongest the list. I believe the price has been held up the last couple of days-buy 1,000 sell 500 to unwind the positions while stabilizing the price. They can afford to lose money given the rise. The only problem for the momo longs at this point is the small investor that caused this run to begin with-they are forcing the momos to buy too much stock on the downside and the small trades are moving the bid/ask around too much. Considering the profit and the end of the quarter they will probably accelerate selling at the halfway point in the position. I think we are close. I have sold all my clients positions in AOL, YHOO and AMZN and have added to longterm positions in MSFT. I added to my personal short above 100 and hope to cover soon. Best of luck, Michael

To: Dwight E. Karlsen who wrote (7852)	6/27/1998 6:11:00 PM
From: Joe Williamson	Respond to of 164687

I took Barron's point to be that one MIGHT THINK that if Dell is selling that the investing public should follow suit; HOWEVER, the rest of the august group was wrong in selling way too early, so Dell might look back in a few months and see that he might have well sold early too. These aren't my thoughts, just my interpretation of what Barron's was trying to convey -- which is a departure from the previous couple of weeks when Abelson made negative comments. The stock seems awfully overvalued, but the comparisons to it and Presstek are not fair. As I recall Presstek, it was mostly sizzle without steak (no exploding revenues or profits) - at least AMZN has exploding revenues (and cash flow as I understand), but no profits seem to be on the near term horizon. There are a lot of people confident the stock has entered a down trend, but other than a two day downtrend I can't convince myself that it's all down hill from here. I thought that was happening a few days ago only to see it reverse immediately. Earnings are a month away and that's when they announced the last split, but my guess is if they announced a split now the stock would break to a new high. On the other hand, I can't screw up the courage to go long again so I guess I'll watch for now.