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

To: Glenn D. Rudolph who wrote (7861)	6/27/1998 7:27:00 PM
From: jawd	Read Replies (4) \| Respond to of 164687

Your logic makes sense. Would it be a correct statement to say you do not believe AMZN is worth this amount from a fundamental point of view but you feel the drivers of the market will make it go higher? The drivers are making it go higher, but ultimately a stock is worth what people will pay for it, rather than what the fundamentals say. AMZN is perceived as the flagship of internet stocks. Sink the flagship and what have you got? Pearl Harbor on internet stocks. If my theory is correct, the best that shorts can hope for is that the MM's will keep AMZN where it is, around 85 - 95. This, to avoid instigating the total collapse of the internet sector. In fact, I think it is far more likely to gracefully finish its run by hovering at this level for a year or so, than to either sink or rise immediately. The great danger for shorts is that the hype continues and the price goes up another 20% - 30% before the MM's allow it to settle but not sink. Extemely unusual circumstances, but the internet is a once in a lifetime thing and its happening now for the first time.