<<What a depressing outcome for the week, eh>>
Yes, it was depressing, but for all the wrong reason. A friend passed away in a car crash and that kind of puts things into perspective.....no worries with cmgi, and in fact I think we are positioned pretty well. The houses should correct this market.....probably between Feb and mid March. CMGI, had it been trading $200 post split, would have gotten hit a lot harder. Our current trading level is very attractive....heck, it's a great buy right now, so it will be an even greater buy if they drop it to $75.00
With quality companies...and cmgi is most definately a quality company, corrections are a wonderful thing. Shaking out weak hands and bringing in new money is imperative for a stocks long term success. Additionally, if you are pretty darn sure about the long term...and with cmgi I see us considerably higher one year, two years...5 years into the future, then corrections allow one to buy at discounted, bare bone levels, as well as making those call/leap premiums a whole lot more attractive, and leaps can really make you a bundle if you get them on the cheap.
All in all, I think the market is due for a correction....30-40% for the naz, and more for select stocks, but this is healthy and the market is very healthy as well.
CMGI is not worth fretting about. It will be a roller coaster ride, but one well worth it for the lucky patrons on this particular roller coaster.
As far as the correction, CMGI is one of the select stocks that I will not sell, no matter how low they bring it. I may write some Covered calls to make protect against some downside, but I will buy every one of them back, regardless. I will not sell a stock like cmgi...I will aquire more on each and every correction the houses orchestrate.
Great day to all |
