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

To: Rob S. who wrote (23606)	10/29/1998 12:01:00 AM
From: Glenn D. Rudolph	Read Replies (1) \| Respond to of 164684

ut people aren't buying reality, they are buying into a dream. the only reality we have now is that immediate earnings (or losses) doesn't matter much and sales growth looks strong for now - even if it's partly bogus. Rob, You are correct. Sigh! Glenn

To: Rob S. who wrote (23606)	10/29/1998 4:53:00 AM
From: Robert Rose	Read Replies (2) \| Respond to of 164684

Rob S<sales growth looks strong for now - even if it's partly bogus.> Rob, thanks for your contributions to this thread. How do you see amzn's sales growth as partly bogus? <Maybe I'm wrong about it moving up and expectations have been built high enough that AMZN will drop like a rock now that the news for the quarter is out. I'll be watching for signs of what to do next.> As a long in amzn and other internet stocks, I'm finding the pattern this quarter a little disconcerting. In past quarters, the typical pattern was a runup up to earnings, most stocks hitting all-time highs, then a dramatic selloff after earnings and all the news was out. Then a repeat the following quarter. This time around, international events got in the way, so we had an "abnormal" correction mid-quarter after the Russian news, followed by an "abnormal" recovery after AG's second rate cut, and now "unnatural" quiet after what most consider to be excellent reports from bellwhethers yhoo and aol. With the possible exceptions of yhoo and ebay, new highs from here do not look likely for most internet stocks this cycle. Likewise, AG's support of the economy in the form of future interest rate cuts provides support on the downside. Thus, I expect the post-earnings correction for internet stocks this quarter to be less dramatic than normal. Which also means that I benefit less by selling now to take advantage of internet stocks' cyclical volatility. Which means that I will likely hold up to next quarter's reports and yawn now that the internuts are behaving more like "normal stocks....