Jeffry,
With the run CMGI has had (100%+) over the past 5-6 weeks, I'm surprised by your amazement that it can go to over 250 by mid Jan. I and most posters here are pretty familiar with this stock, and we know that once it gets moving, it's tough to stop. This time of year especially, the good news seems to keep rolling in.
Funny thing about momentum stocks - they always seem to go up or down much more than you think possible. Witness last winter/summer. In the meantime, it wouldn't surprise me to see the stock settle in the 170-180 range during a correction, but as long as volume does not increase, I am not concerned.
If you reread my post, you'll see some of the reasons I gave for a continued up move, after a brief correction: split, icast, China. I'll also add some that I've posted previously: Jan net conferences like they had last year, in which Wetherell can further enlighten analysts on his strategy; AV, even though it won't go public til March (I think); earnings time for other nets, such as YHOO; good seasonals for all techs; sheer momentum of the stock.
I won't believe this run is over til I see some type of blowoff volume (20 mil+) on an up or reversal day. Then I'm out of my short term stuff.
As far as my calls, they were actually Jan 180's bot in late Oct/early Nov at 50 cents. I remember telling my wife "Honey, tomorrow morning I'm going to p#ss $10K down the toilet. You don't mind, do you?"
As you can see, I wasn't nearly as confident in my purchase then as I am now. gg |
