CMGI What is the latest news on this stock? Message Board

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Technology Stocks : CMGI What is the latest news on this stock?

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To: jtechkid who wrote (367)	4/14/1998 11:43:00 PM
From: D.J.Smyth	of 19700

"yes it goes up fast but it dropped 9 points very quickly on really no stock -being sold-100,000shaRES- no buyers because these people are traders not investors-its like musical chairs -last one standing will be hurt" let's see, if it dropped $9 for each day with a total of 100K shares traded and no buyers, we'll be at $10 in less than 9 days. that makes a lot of sense. expectation of Intel/Compaq had much to do with the drop. market makers are given a lot of "room" to move a stock in such a case. those making the market tried to let the short term traders out at the lowest possible price/greatest loss or least profit. upon reaching $96 the stock showed very good resilience with little selling pressure or short covering as it appeared the upward trend was from actual buying and not covering. there was some obvious covering at $100 given the tick line. however, it's doubtful that the valuation of the company will be dependent on a few momentum players but rather the funds moving in to add support. good sized blocks were moving into the fund all week at the ask to lend support which looks to be about $86 (short term)

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