Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Robert Rose who wrote (27826)	11/23/1998 3:08:00 PM
From: Rob S.	Respond to of 164684

Thanks. It feels good to be so right and yet in all that really matters, the price of the stock at the moment, so wrong. I do think that this is partly a short squeeze led rally and partly buying frenzy. There were several thousand in-the-money options positions that expired on Friday or are still open. Many of these can be considered as short positions that either need to be covered or will generate open positions of people who will want ot sell. Then their are the 7 or so million shares held short at much lower prices. Lots of that may have been covered but probably is being replaced by new short positions. I talked with a stock broker today who said that he is getting besieged with calls from his clients who are "practically screaming at me 'why didn't you get me into the Internet stocks? I want to buy Amazon (or eBay) today.'" The broker said that he tells them that he doesn't think they are a good value at this level but he is often over-ridden. He attributed a lot of the buying to "my less sophisticated clients who are only looking at how much the stocks are up and don't even want to know anything about valuation or forecasts." With mania like this, its hard to tell when the feeding frenzy will end.