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

To: Don Westermeyer who wrote (58435)	5/25/1999 3:56:00 PM
From: MSI	Read Replies (2) \| Respond to of 164684

I'm not sure where people are getting the margin to bet on these i-nut horses. They haven't margined i-nets for a while. They have been margining other stocks, and using that buying power to buy more stocks. Now they see their buying power erode dramatically. Other tech stocks that have been margined are producing margin calls. It has been feeding on itself for two weeks now. We're headed for very rough weather until we reach reasonable PEs that correspond to HONEST growth rates, and will perhaps overshoot that. Meanwhile we'll have a bounce sometime, but not today obviously. I've been 90% cash for three days