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Technology Stocks : CMGI What is the latest news on this stock?
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To: sunny who wrote (12306)8/3/1999 12:05:00 PM
From: James Thompson   of 19700
 
sunny, I am not a professional trader, but a small investor. My basis for CMGi is a very near 75 average. I am waiting for it to reach that level. When it does, I will buy more because I don't intend on selling CMGi for several years.

I have been slowly building my CMGi holdings since last January and have benefited from two splits and one IPO (ENGA).

We are experiencing a significant drop in favor for the internet sector as a whole. There was a time when I would have bet that the internet stock euphoria (bubble) would go on for a long time to come. Wow, was I wrong! People were making tons of money in net stocks and considering the factor of human greed, why would they stop? I forgot that there are those out there who are capable of moving markets and, for whatever reason, they have burst the bubble. Now, there aren't any serious buyers out there. Confidence in the sector has dropped and few want to buy. I don't consider this to be a problem with CMGi, but with the sector and market psychology as a whole. Interest rate fears and Y2K concerns are driving this market down. It will take some positive resolutions in those areas to bring it back.

I am staying in because the market is cyclical and eventually, the sector should move back into a favorable position. Soon after the first of the year.

Jim
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