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Technology Stocks : CMGI What is the latest news on this stock?
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To: IngotWeTrust who wrote (17679)4/14/2000 2:33:00 AM
From: Stuart C Hall  Read Replies (2) of 19700
 
I saw a coworker mailing off a margin call check today.

I feel sorry for those who play that game.

My belief was that Internets were safe as long as you played the winners. I've always felt consolidation would be coming and I think this is the shakeout that will start the ball rolling. CDNW is holding us all back. It's a redheaded stepchild that no one wants. That is spilling over to all Internet stocks. This impacts CMGI as the question is in everyone's mind, can these properties stand on their own. NAVI can, maybe SILK, but ENGA, VNTR and others need some serious support to make it on their own. Will CMGI stand by these properties in tough times?

The question is when will the fund managers get back in the game. Supposing they caused this freefall and robbed the pockets of those less fortunate we're in for more rough times until big block buys start coming through. I'm calling for a 20% bounce before it's safe to swim in these waters again. CMGI has to hold 80 plus for a week before I think we're back on track. Then it might be a long slow climb back to 100. This is the worst time of the year traditionally for techs. I'm holding all my positions. No sense in taking the loss unless it is necessary. Time is our friend. Patience is our goal. Profits are our reward.

But damnit, I'm down 50k on paper from four weeks ago!
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