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To: Roger Smith who wrote (11674)	7/3/1998 4:17:00 PM
From: Robert Sievers	Read Replies (2) \| Respond to of 27307

What is your take on AMZN. I am short and wounded very badly. Do you think that it would continue to go higher ? Why not. The next 20 points are no more or less justified than the last 20. YHOO might as well go to $250. At this point, the actual market cap doesn't matter. YHOO is worth roughly that of the entire disk drive sector combined. What's another 20 points?

To: Roger Smith who wrote (11674)	7/3/1998 6:09:00 PM
From: Sonny Blue	Respond to of 27307

I would not underestimate the strength in AMZN stock. I came to that conclusion yesterday after seeing AMZN went higher while all other Internet stocks got hit hard. AMZN is not just another online bookseller or seller of anything anymore. Like William has pointed out before, AMZN can add almost anything to its lineup of books and CDs and continue to sell them to its 2 million registered (captured) users. (Maybe it is another DELL story?!) However, if you look deeper, Amazon now almost becomes a portal in itself, sort of AOL or Yahoo, with its own loyal visitors daily. The beauty is that people come to Amazon to buy stuff, not to just browse around. I think the Street came to this realization few days ago, then trying to bid the stock higher. Amazon is now 7 billions in cap. versus Yahoo's $9 billions cap. A side note: I invested "Peter Lynch" way - I bought books online both from Amazon and Barnes & Nobles. There was nothing special about both booksellers except the book reviews seem to have more "meat" on Amazon than BN. Maybe that's the strength of Amazon, in its community of readers & buyers. I also booked my vacation with Preview Travel (PTVL) and was quite happy with the service. The trend of the world going online is inevitable. Valuation aside, I'd be careful shorting these Internet stocks.