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

To: Sarmad Y. Hermiz who wrote (55147)	5/4/1999 7:09:00 PM
From: Jan Crawley	Read Replies (1) \| Respond to of 164684

as soon as I buy a stock, it goes down. As soon as I sell short, it goes up. Maybe I should invest in CD's. Sarmad, what are you talking about?? We watched you shorting over 1,200 shares of Yhoo @187+, "suffered" thru $197, and after three days, finally covered below $170+ or so... Now, you are just long 200 shares of Amzn at 145 1/2? We are the "today bulls" currently, tomorrow, if we sell at $150 or so, then we will become objective again. :)))))

To: Sarmad Y. Hermiz who wrote (55147)	5/4/1999 7:47:00 PM
From: Miche Elle	Respond to of 164684

Sarmad, I don't know about you, but i've been a professional trader for 22 years, and what i have learned in that time is, the market will always look for justification for moves that aren't justified, look for excuses for moves that are inexcusable, and look for reasons that are unreasonable. I could profer "justifications" or "excuses" or "reasons" for why the cyclicals didn't move down as much as the techs today, but, what matters more, if you are going to be a "successful" trader (and that means lasting and prospering in the game for the long pull) is, to remember one thing: the market is a forecaster of the FUTURE. Folks are scratching their heads on this and other boards over Amazon's pullback from 220 in the face of "better than expected earnings" and what they should be hearing is that earnings aren't going to happen for two years! Isn't money put to better use elsewhere instead of sitting and waiting to see what happens to AMZN in two years from now? You ask why the cyclicals didn't move down as much as the techs today....don't lose sight of the fact that many cyclicals did move down and that the relationship of price/earnings of the cyclicals is still not nearly as wide as that among the techs, particularly in the case of the AMZNs of this world. In addition, money needs somewhere to go while the MMs are trying to figure out whether we're on the verge of a massive correction in the techs, and the overall market. Besides, although the cyclicals did not suffer as great losses today as the techs there's no guarantee they won't join a selloff in the ensuing days -- particularly if interest rates continue upward pressure. And if interest rates continue on this course, most of the market will be subject to pullback, including the cyclicals, which, IMHO, have also gotten ahead of themselves here. The dow move to 11,000 yesterday seemed preposterous and highly supect, concomittant to the MS IPO -- and especially in the face of upward pressure on rates and the absence of a "fresh" earnings season (what happened in april is old news....the market forecasts the future...usually 6-9 months or more out) Parabollically rising markets are historically the most dangerous.