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

To: Gary Walker who wrote (30528)	12/20/1998 9:46:00 PM
From: Glenn D. Rudolph	Respond to of 164684

The Internet Capitalist SG Cowen Internet Research 15 Of course, this latest move by the NASD follows recent moves by Charles Schwab, Waterhouse Securities, DLJ Direct to raise margin account requirements for certain Internet stocks. Both of these strategies are directionally correct but probably won't be impactful except on the margins. Some market event (or perhaps series of events) is likely the only antidote to the volatility in the Internet sector; perhaps a big pre-announcement (recall that Sportsline, not often confused with the term industry bellwether, caused a nice market correction of its own when it pre-announced its Q3) could dampen demand for these IPOs and create the normal trading that the NASD and brokers desire. Regulations and technical corrections, we're afraid, just won't cut it. Froth Watch, Revisited Whereas we were toying with the notion of creating a permanent section within Valuation Watch called Froth Watch, we now realize that we can simply have a Froth Watch section on an ad-hoc basis as market conditions warrant. (Recall that the purpose to highlight what we believe to be excellent indicators of the indiscriminate shareholder value allocation that the market has been practicing in this sector). Suffice it to say, market conditions still warrant, but we've come up with no real gems this week, so we'll keep our powder dry for now and hope that, as the year end draws nigh, rational expectations will replace great expectations. The Calendar: Week of 12/21 & 12/28 Christmas, Hanukkah, Ramadan, etc. Enjoy your holidays; please only read (or re-read) The Internet Capitalist at Church (or Temple, or…) if you absolutely must. Diversions: Movies You've Got Mail, the Sleepless In Cyberspace step-cousin, gets accolades for its star power (without Hanks and Ryan, the movie wouldn't rate a complete sentence), but falls just short by being altogether too cutesy for this research group. This despite a free ticket, a 48 hour head start on the masses, and a great buffet on AOL afterward. Nevertheless, the branding benefits to AOL could not have been more evident; we suspect that, as a customer acquisition vehicle, You've Got Mail could rank a close second to Windows 98 this Q4. Sports Whilst the NBA negotiates, the Jets ruminate; Saturday's Jets/Bills game (where the lowly-for-a- decade Jets could snag their first division title since ‘69) could even provide more entertainment value than two sell-side analysts sparring over such effluvia as their AMZN price target. Search the Web for Holiday Spirit For those of you that are having difficulty finding the holiday spirit, jump on the Web (it's so much easier than hopping a cab to Rockefeller Center). Our recommendations include: christmas.com where your kids can register to become EIB (elves in black); santa.com which lets you set up your own private, family chat room and finally, for the Scrooge in all of us, xmascoal.com with easy and affordable gifts for that not-so special someone.