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

To: Glenn D. Rudolph who wrote (23179)	10/27/1998 7:44:00 AM
From: a. paisley	Read Replies (1) \| Respond to of 164684

getting whipped on my second round of buying NOV 110 puts from 8.50 now 6.75 a nother ssssqueeze another 5 or 10 pts yikes

To: Glenn D. Rudolph who wrote (23179)	10/27/1998 9:15:00 AM
From: Glenn D. Rudolph	Respond to of 164684

From Briefing.com: "General Commentary Momentum, momentum, momentum... Techs riding incredible wave of momentum as equity investors are displaying a much greater tolerance for risk than fixed income investors who continue to favor the risk averse short-term instruments... Nowhere is the renewed appetite for risk better exhibited than in the high-flying net sector... Led by EBay (EBAY) which soared 46% on nearly 15x average daily volume, Internet stocks enjoyed one of their best days in months... Why? Some were buying ahead of AOL's earnings, due out after today's close, on anticipation that good report would spark buying throughout the group... Others just getting back in on belief that selling during correction was overdone and that group offers "value." While there is no denying industry's/sector's bullish tone, we do question market's willingness to take on risks at a time of slowing earnings growth and high valuations... Yes, global environment has improved due to declining interest rates, Japanese bank reform package and expected aid package for Brazil... But investors ignoring lag effect on economy and earnings... Downside of global turbulence was barely felt in the third quarter, meaning that the worst of it is yet to come... Depth of slowdown, assuming steps taken achieve recovery (big assumption), likely to come in quarter one of 1999... In other words, we are facing at least two more quarters of slowing earnings growth... As Q4 estimates begin to come down in the weeks to come investors will again show a preference for more reliable earnings performers such as Dell, Microsoft, etc... Net stocks will get clobbered, and most recent darling - EBay - will be among the biggest casualties."