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

To: fedhead who wrote (19528)	10/2/1998 12:03:00 AM
From: Bill Harmond	Respond to of 164684

I doubt Internet companies would not be meaningfully affected by a recession, and the market generally bottoms before a recession anyway. The 1991 recession (the last one) saw the market bottom during early October, 1990. I think this correction ended in early September, and that this is a retest. The bank stock Index hasn't made a new low yet, I'm still up 25% from 9/10, and the number of new lows is contracting. That's what's keeping me in. As far as I'm concerned the market is awash in rumor, fear, quarter-end cross-currents, punditry...but it has discounted lower earnings estimates (that haven't been published yet), and the amount of dollar liquidity being generated in the US bond market rally is simply staggering. Fundamentally I'm not worried. Nothing ever is as bad (or as good for that matter) as it seems. Do you honestly think folks that bought all those put options today have a chance to make a killing? For their sake I hope they do, but I'm buying stocks I believe in on weakness.