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Technology Stocks : CMGI What is the latest news on this stock?
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To: Satch77 who wrote (1490)8/13/1998 12:40:00 PM
From: Diabolique  Read Replies (1) of 19700
 
Satch:

Yes, short term trend for CMGI looks down. The final sign was yesterday, when GCTY pops 8+ points and CMGI still closed down. All this after the expected CMGI ramp up failed to materialize on GCTY IPO day.

I think CMGI will give back 20 points in the near future, so your 60-65 range looks reasonable. Although I'm not good at predicting bottoms (or tops, for that matter), I'll hazard a guess and say CMGI might even see the 40's if Asia/Russia gives us more to worry about.

Yuan devaluation does not have a direct affect on this stock. If it happens, US multinational companies with Chinese exposure will lose a big chunk. The Market will be hit hard, in such a drastic down turn, the internet stocks would be among the first to go. Cross Market Liquidation anyone? Good news is the Chinese minister has reaffirmed they will not devalue, for now. If Japan gets any worst, China may not have any other choice further down the road. And they're still communist and have been known to go back on their word.

I have no position in CMGI now, I'm currently shorting Preview Travel (PTVL). Much less volatile then CMGI, so I don't have to watch it like a hawk. I also get to sleep better at nights.

Good luck on your short,

Dia
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