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

To: M. Frank Greiffenstein who wrote (18750)	9/28/1998 1:23:00 PM
From: Rob S.	Read Replies (1) \| Respond to of 164687

I think you would call that what, avoidance or disassociation with reality? investors want to find something good to focus on rather than events in Asia, Russia, Brazil, etc. and have a fantasy that somehow speculative stocks can ride out whatever ill currents are flowing through the economy. This appears to be manic-depressive psychology - the greater the euphoria on the way up, the greater the collapse may be on the way down. Investors have been trained over the past few years to think that the market will always rally out of pull-backs rather quickly. That worked well during an extended period of world-wide expansion to lift earnings and available capital for investing. The reality has not sunk in that the financial markets and world growth is slowing down, and in some areas in a deepening recession.