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Technology Stocks : CMGI What is the latest news on this stock?
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To: Mike Harvey who wrote (15185)12/24/1999 10:10:00 AM
From: Brian Malloy  Read Replies (1) of 19700
 
FWIW,

You know it is very interesting that you choose this time to short CMGI. We would all agree that this is an unusual year with us sitting on the verge of Y2K so the markets could definitely do anything during the last week of trading.

However, having said that, given the way the markets have run and given that the DOW finally made a new high Friday may indicate that the market still wants to move up. From a historical perspective the last week in December in terms of market probability, the chance of the market rising on any given trading day is at its highest.

M-27...71.7%
T-28...51.1%
W-29...65.2%
T-30...73.3%
F-31...71.7%

There are only six trading days where the market probability comes out at 70% or greater in 1999. Don't you find it interesting that three of the six days come in the last trading week of the year?

Regards,
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