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

To: Alan Newman who wrote (8304)	7/1/1998 4:38:00 PM
From: William T. Katz	Read Replies (1) \| Respond to of 164687

Judging from the way this stock market works, fundamentals matter when those who know the fundamentals are bankrupt. The stock market can be boiled down to three things: (1) buy the internet stocks, (2) buy Microsoft and Dell, (3) buy the drug stocks. If you did those things a year ago, you'd be rich. I had a very small short at 101 (100 shares) which was stop covered at 103 3/4. Was hoping to accumulate shorts at what was supposedly a top, but breakout from previous top looks bad. The question now is whether to start a short position just after opening tommorrow when there will be a lot of short covering? I think I'd rather short software.net right now, though, but everything in the internet sector is so insane that the risk might not be worth it.