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Technology Stocks : CMGI What is the latest news on this stock?
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To: Richie who wrote (14734)12/14/1999 5:48:00 PM
From: otter  Read Replies (1) of 19700
 
The charts suggest that four of five of the stocks I've been following (AMZN, CMGI, FDRY, AOL, CSCO) had gotten ahead of themselves to some extent. CSCO is the exception; having run into the 100 point brick wall about four or five times in the last 10 days or so.

If this were last spring, I would be thinking it's reversal time. But it isn't. It's December and January is coming; both months a time when a whole lot of people are (1) rebalancing portfolios and (2) looking for places to put their bonus buckies.

I'm going to guess that there is some minor backfilling that needs to go on before much else happens. Also remember that this coming Friday is options expiration. I suspect that the downward/sideward pressure for most of these stocks will continue until next Monday. Just my very humble opinion, of course. Cheers.
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