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

To: Bill Harmond who wrote (22399)	10/21/1998 7:21:00 AM
From: JBL	Read Replies (2) \| Respond to of 164687

Wiliam, I have been 85 % cash and 15 % in AMZN puts since July, when Japan officially entered a recession. (I had never taken a bearish stand on the US economy up until that time.) My thought was this particular stock would not be able to resist a coming bear market, in the context of questionable valuation and mounting threats from the competition. I can tell from your posts that you think the future of AMZN is bright, and I won't try to change your mind on this. Rather, I 'm interested in your reasoning for being bullish on the market in general. I am honestly puzzled to see so many intelligent people think that "the worst financial crisis in 50 years" (as described by Rubin just yesterday) will result in a temporary correction in the US.