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To: Panita who wrote (1210)	7/14/1998 2:22:00 PM
From: Andreas Labrakis	Read Replies (1) \| Respond to of 4903

Does anyone understand why the stock is having such a wild swing today! The stock has penetrated both 50 and 200 M.A. and I'm trying to get a better read on the stock at this level. Anyone with some insight will be appreciated

To: Panita who wrote (1210)	7/14/1998 4:47:00 PM
From: Bill Jackson	Respond to of 4903

Panita, As others crowd into that niche Amazon will see this happen. The publishers will sell to anyone at the same price and soon B&N and others will mount attacks on that segment. Amazon will also be hurt by the self publishing by author trend. When you buy an e-mail text of a book for $2, all of which the author gets, there is nothing there for Amazon. Currently the author of a book gets from 50 cents to $1.50 per book sold after all returns are tallied(usually 6 months after shipping) and unless he has a "remainders get shredded" clause he will see his book remaindered(slod for $3.99 or?) and he will get nothing of that remainder price. So authors are starting to self publish on the web. One problem the small guy faces is how does he take visa/mc/amex. Currently you have to pay at least 50 cents to athird party financial secure back end. Those with money can get the bank to let them do it for the usual 2-3% Amzona has had a free run as the old houses were too stuck in the mud to abandon their traditional outlets. Amazon had none, so it has run free for a while. In a year that area will be crowded and discounts will grow and the small book stores will perish by the thousands(already happening with the mega book stores killing the stupid small book stores. The minimum freight of $3-4 for a book will act as an umbrella to shelter the retail books stores as long as they are competitive and have the book there right now a market balance will ensue and the online books stores will nevr totally crsuh the small/large retailers. Just severely limit them to a lot less than they now have. bill