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Technology Stocks : CMGI What is the latest news on this stock?
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To: Richard Tauber who wrote (17394)3/23/2000 5:13:00 PM
From: Hadrian  Read Replies (4) of 19700
 
Richard - from a technical perspective CMGI is just digesting the huge run-up from the low $50s. When it came down to $100 from $160, it had given up over half of the gains which is a typical retracement area. It then started trending upwards once again. If you look at a daily chart (I use candles), you can draw a trendline underneath the low on these dates... Dec 13, 99 (@~ $95); Jan 31, 00 (@~ $100); Feb 21, 00 (@~ $102). You can see that this new slower uptrend has been in place since December and a close below about $108-$109 would interrupt it. The previous steep trend starting with the November gap was broken on Jan 5th (no trend that steep can go on for too long).

A lot of folks held on during December, sold in Jan. to push their tax bills up a year which I think brought on the current consolidation/slow trending period. As far as day to day movements, all I can say is the worst dog of a stock can go up with the NASDAQ down 400 and some of the best stocks often go down when it's up 200.

All this is IMHO and hope it helps. Using TA helps me understand stock movements and keeps my emotions out of decision making. The book "The Visual Investor" by John Murphy is a fantastic introduction to the subject.

Hadrian
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