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

To: Rob S. who wrote (18081)	9/23/1998 8:45:00 PM
From: fedhead	Read Replies (3) \| Respond to of 164684

I have a feeling that AMZN could exceed its old high in the coming weeks. Look at the action on the 2nd tier net stocks . If XCIT, LCOS CNWK can record such large moves I am sure AMZN will keep moving higher. Anindo

To: Rob S. who wrote (18081)	9/23/1998 8:45:00 PM
From: OtherChap	Read Replies (3) \| Respond to of 164684

Well, I take a two day vacation to visit relatives in Virginia and Amazon goes crazy. Trying to trade options over the telephone is nearly impossible. I sold all my Oct and Nov puts yesterday for a nasty 20% loss. But I am still well in the black overall. However, it has become clear to me that the options game with Amazon is completely rigged, and the market makers will do everything in their power to crush the October puts. They know they cannot crush the November puts because Amazon releases its earnings the day AFTER october expiration. And since every analyst (EVERY SINGLE ONE) has increased amazon's losses by 100% for this quarter, we know the numbers are going to be terrible. Many people holding october puts are going to feel suicidal after seeing the stock drop 30 points the day after their puts expire worthless. In any case, I managed to short 8000 _shares_ of Amazon today from my full service brokerage, at an average cost of 103. I can sleep easier not worrying about the value of my investment disappearing in a month. I can afford to ride this short squeeze out even if it were to go to 300 per share. Tomorrow I may pick up some october puts just for fun, since they were utterly DESTROYED today. The Oct 60 puts are trading for under a dollar. If you're in the gambling mood, go for it.. But just don't do it with money you can't afford to lose.