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Technology Stocks : CMGI What is the latest news on this stock?
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To: MulhollandDrive who wrote (3395)1/6/1999 7:37:00 PM
From: Douglas V. Fant  Read Replies (2) of 19700
 
bp, Yes. I hold CMGI long and then sell covered calls (too conservative!). On every huge up day I also buy some naked puts about 10-15 points back of where the stock currently is. Today I bought some Jan 125 puts dirt cheap - about $2/put.

Because the stock is so dynamic, the puts tend to keep a good chunk of their value right up to about the last 1/2 hour of the day they expire! We've now had three consecutive gap opens at about 75, 92, and today at 120. We have not filled any of those gaps technically.

Unless all technical indicators are dead with Internet stocks, we should retrace a bit at some time....In that way you maintain your long postion 100% of the time, but play the downside retracements too (if there are any,ha!), and put a floor on what you can lose in a retracement....

Sincerely,

Doug F.
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