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

To: Jan Crawley who wrote (15405)	8/31/1998 3:42:00 PM
From: Don Westermeyer	Read Replies (1) \| Respond to of 164684

Down $18+ - T i m b e r! Almost everything is ugly today. Dow down almost 400 now. I wonder how long before the word 'crash' will be used.

To: Jan Crawley who wrote (15405)	8/31/1998 3:53:00 PM
From: IceShark	Read Replies (1) \| Respond to of 164684

Jan, AMZN also has selling pressure due to options. MarketMakers are selling long stock they bought to hedge calls, and shorting stock for deep OTM puts they didn't hedge originally because they didn't think they would ever be in the money. We won't hit a DJIA stop today, but holy smokes people are going to have heart attacks when they see the closing prices. Those retail nuts that went long on margin may be nearly get wiped out. If they margined to 50%, a call at the min of 30% means they lost 40% from the get go. Ouch! Regards, IS