Stock Attack -- A Complete Analysis Message Board

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Strategies & Market Trends : Stock Attack -- A Complete Analysis

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To: Judy who wrote (7774)	4/23/1998 5:00:00 PM
From: Robert Graham	of 42787

CMGI is definitely one of the more illiquid stocks. I see volume has increased by a high multiple over the past couple months from the start of its "rocket launch". The technicals indicated that this high-flying stock was ready for an imminent pullback. The MM pulled the price back from 92 to 87 under very small volume which eventually ended up the price at 85 before it started back up on increased but still light volume. It looks like a day with a little over 1/2 of the recent daily volume, and the price ended up at about 87. The MM ran into activity at about 88 today. The buying activity of this stock did not justify the runup to its close, so the price action on this stock is not indicative of the buying and selling interest on this stock. This MM is raking the price back and forth in a struggle to make money beyond that of the spread. I see several instances where there can be a couple point increase under nonexistant volume until he runs into some buying to take the stock off his hands which he dipped the price down to collect before the runup. No sign of institutional participation, periods of SNET activity, and for the most part, 100 and 500 share transactions. Bob Graham

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