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

To: Lizzie Tudor who wrote (56883)	5/15/1999 6:45:00 PM
From: Bill Harmond	Read Replies (1) \| Respond to of 164684

I think the US economy is reflating back to where it was last spring. The gasoline increase was 17% (due mainly to a return in oil prices to last year's level, and the supply shortage in the western US caused by three (how convenient) separtate refinery explosions within a week of each other in California that drove gas up prices here by forty cents. That won't keep up. Secondly tobacco prices were up 3% to pay for the litigation settlement. I know two people who smoke. I don't think the Fed will act on refinery explosions and expensive cigarettes. The PPI and productivity data earlier in the week were terrific. The only thing that bothers me is that the Fed made that last cut "for good measure". Perhaps they'll take it back at some point. The Net stocks didn't buckle Friday. That's the big news for us in my book. We had a nominal new low in Amazon, but most others stayed above last weeks lows.