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Technology Stocks : CMGI What is the latest news on this stock?
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To: Brian Malloy who wrote (3320)1/1/1999 9:26:00 PM
From: Jon  Read Replies (4) of 19700
 
The "X" factor for most stocks in the new year will be "New Money". As always, the new year starts off with money ENTERING the market which gives a good indicator as to which stocks will benefit from mutual fund investments for the rest of the year. For those who kept from selling CMGI in '98 after it ran up, their is little reason to figure they will immediately sell on Jan. 4th. It is more likely that they will sit tight a little while longer (i.e. split, new IPO announcements) before they take their profits off the table.
As to those looking at the valuations for CMGI, lets get some sobriety in here. In any other industry this stock would be grossly overvalued. Comparing it to YHOO is both unfair (YHOO & AOL are the undeniable industry leaders) and quite simply scary. The internet, while it may be the future, does not mean that their stocks will keep shooting for the moon. If we keep a little perspective we may be able to keep this bubble from bursting. If things keep going, however, look for stocks like AMZN, EBAY.... to PLUMMET 100 POINTS IN A SINGLE DAY SOON!!! I personally hope CMGI goes back to its high before the split and then takes a breather. We need to allow earnings to catch up with the stock before another run. Just one little hiccup in those earnings will send these stocks crashing.
These stocks need something more than just a strong stomach. They absolutely require some timing, something that kills most investors in "normal stocks" for the exact opposite reason than it would here. In internets you have to know when to get in (NEVER at the open and NEVER as they're going down fast. Only get in after the dust settles i.e. under 5 point swing days - max. 10) and when to get out (if you're willing to let it go against you for 10-20 points, then don't be willing to get out with just a 5 point profit - risk reward should be at least equal) In normal stocks you should just buy and hold. If you do that after the novelty of these internets is over then you'll get the snot beaten out of you and they won't necessarily come back. Less than a third of the biotechs that were around in the 80's are still around today.
After all that rambling........ I'm long CMGI again (sold at 124 and got right back in the next day at ........ a higher price! Discipline is always the hardest thing to practice. I guess I'm not as smart as some in here, ....... supposedly are.)
My advice: Get a grip and tone it down!! Leave the hype at the door when you're in here. And most of all GOOD LUCK!!
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