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Technology Stocks : CMGI What is the latest news on this stock?
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To: finfan who wrote (553)6/5/1998 12:56:00 AM
From: Stephen  Read Replies (1) of 19700
 
Usually I would expect this stock to bounce back a little. However the price action was a little disturbing today as any kind of upward movement was met by selling into the strength. We also know that CMGI was out of step with the other internet stocks so I think that the supposition that the market knows something that we don't may hold some water. Usually daytraders would have bought on the dip for the bounce on the strong overall market and I think a few got burnt today and won't be so keen to try it again tomorrow. Its a difficult one to call and I watched intently with the that very idea - but as I say, it doesn't look good from the price action.

To counter everything I just said, there is a chance that the mm's are playing games because they want to buy cheaply before earnings.

My call would be early weakness tomorrow before some kind of bounce - and that bounce could be strong if the market behaves.

Soooo whatever happens I guess I called it right !! (GG).

Good luck all

Stephen
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