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Technology Stocks : CMGI What is the latest news on this stock?
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To: Michael Young who wrote (10928)6/27/1999 5:50:00 AM
From: Mike Torrence  Read Replies (1) of 19700
 
I wouldn't call that single day's action a "relief rally". The market began worrying about interest rate hikes following the announcement of that CPI number almost immediately. One thing is needed to get us started again, in my opinion, and that is a change in the Fed's bias. If the Fed announces a 25 bp rate hike and states that their bias is now neutral, we go up. If the Fed announces a 50 bp raise and hints at no further action on the upside for now, I think we'll be up bigger. Anything else will leave us where we are, stuck and uncertain, unfortunately.
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