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Technology Stocks : CMGI What is the latest news on this stock?
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To: SJS who wrote (3625)1/9/1999 5:15:00 PM
From: Sowbug   of 19700
 
Although distant and many wounds have healed, if you want some reality, go back to your August or September or October 1998 statements and reflect on the pain you felt as you opened and read them. That can return in a heartbeat...

No kidding. I'm actually glad that margin maintenance requirements are being increased at many brokerages. Up to this point, a short-term investor would have been correct to use maximum margin to buy high-volatility net stocks. But that can't last, and margin calls are possibly literally hours away if the market turns. I hate to make comparisons to 1929, but it was extensive margining that led to the forced panic selling in that crash. If maintenance requirements go up to 50% from 30%, at least that forced selling will happen earlier and thus at higher prices, making it more likely that your average long-term investor will hold on and not sell when Yahoo drops $150 in a single day.
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