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

To: John Donahoe who wrote (45414)	3/12/1999 10:44:00 AM
From: Rob S.	Read Replies (1) \| Respond to of 164684

The recovering economy in Japan will help to drive up prices and drain capital from US equities. It's good for world stability and long term growth but the goldylocks scenario America has enjoyed - very low prices for consumer stuff (low inflation), robust growth at home, and a pumping up of liquidity to help float the tanking economies will dissipate. In the longer term Japan and China will spur the economy and the stock market higher. But that is not going to be the near-term general effect, IMO. Technology, including the drug, and medical sectors, will continue to be the drivers of the economy. I see little chance for a collapse of the market but there is very good reason for a rotation out of the very highly valued stocks and into second and third tier issues. The reason that will likely happen is that the go-go stocks will look riskier as the stock market cools. The high valuations have not been perceived as high risk because of the potential of moving up by leaps and bounds. Going forward, those leaps and bounds are going to amount to much less.