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Technology Stocks : CMGI What is the latest news on this stock?
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To: Debs who wrote (855)7/30/1998 2:40:00 AM
From: space cadet  Read Replies (1) of 19700
 
Yup good points. I mentioned last week that gcty will probably get delayed 6 months if the market is weak. In that case I think cmgi falls to 35. Remember that even at 35 many people have gotten rich in this stock, which was at 7 just a few months ago. The market doesn't usually just go up 10 times in a few months without some kind of pullback. Anyone buying options on this should probably own both puts and calls here, though my money would be on puts at this stage. Short term we should bounce here but by Aug expiration I think 35 looks doable. I'll admit I'm not playing because so far my internet forecasts are pretty bad. Even at 35 by most traditional measures of value cmgi would be very very overvalued but I think that is probably as low as it will get in August. Incidentally I think the clinton/bimbo stuff is a joke and the republicans are just bluffing. The last thing they want is to do anything except embarrass clinton with it. It must be a slow news day if that nonsense is still being talked about. I'm no fan of Clinton-in fact I think he should be impeached for continuing the insane war on drugs- but the Monica stuff is utter nonsense.
Incidentally on a more serious note I think this geocities stuff was crazy to begin with. Geocities is a place for web sites. Virtually no one visits there except the people who have web sites there. It's not like lcos or yhoo where tons of people pass thru everyday. The web site is a valuable service so maybe you can eventually charge those people $5 a month for the service but the advertising model a la yhoo doesn't apply here. Of course, any "model" for geocities value was cheap hype to begin with so it's probably stupid to rationally look at it. However I still think that long term the "portals" are where the value is and the amazons and geocities will never be worth a tenth of what people are thinking today they are worth...
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