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

To: Glenn D. Rudolph who wrote (19316)	9/30/1998 9:06:00 PM
From: M. Frank Greiffenstein	Respond to of 164684

Window Dressing Season over... I predicted AMZN would make one last run at 120 in the last half hour of trading. Indeed, it bounced impressively off 108 and ended up just north of its open. Damn, I was going to be right, I just ran smack into 4 PM. The next week will tell us about the window dressing effect. I read Bill Fleckenstien's daily column, he spoke about how Fido was "marking up" GTW to impress people. GTW promises to be an itneresting short. I wonder how much "marking up" took place in AMZN during these incredible bounce backs. Mutual Funds have incredible power to bring about upward stock movement. They can practically will it if they have enough assets. BUt this power depends on liquidity, and I jsut found out that 12.5 billion dollars NET flowed out of mutual funds in August alone, the biggest total in history. Once people start redeeming shares (I have all my money in a Fido IRA/SEP, I went to cash and gold/silver select funds last week), there will be a double whammy: Stocks will go down becasue people sell, stocks will go down further as MFs have to sell to meet cash outflows. You think index funds were the place to be in the last 2 years? They are not the place to be in bear markets. Anyway, the congestion in AMZN stock the last week will break up very soon, this month. And mutual funds will lead the way. How about a contest? Guess which day the first SG Cowen analyst is sued and win 1,000 Attaboys! DocStone