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

To: H James Morris who wrote (33788)	1/9/1999 3:51:00 AM
From: GST	Read Replies (1) \| Respond to of 164684

Another month going up? Let's say you are right and the 'thing' just keeps going up. The market cap goes from 25 billion to 100 billion. (Underlying value long ago became irrelevant. We could have an interesting discussion about whether AMZN is worth say $5 billion, being generous because it is a highly speculative investment, but at current levels why bother?) Then what? The drop, when it comes, would have implications on the scale of the demise of LTCM which the Fed stepped in to prop up last fall. Would the fed prop up the 'thing'? Would the Fed let a freakshow like AMZN put the broader market at risk? I don't think so... No, the Fed would lean on everybody to stop this sooner rather than later. AMZN is the 'thing' that smells bad and needs to be taken to the curb. That time has come. There is no more up. If it marks time here moving in a trading range it is just the smart money taking the dumb money before moving on to the next game. This game is over. The 'thing' stops here. Trust me.