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Technology Stocks : CMGI What is the latest news on this stock?
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To: Jon who wrote (4016)1/18/1999 12:25:00 AM
From: Mark[ox5]  Read Replies (3) of 19700
 
Good post...actually great post.

<<<I realize this is the strongest worded post I've ever written but I can't stand all the bitching that's going on.>>>

I think many people who invest in these stocks don't even know what a 10-K or 10-Q is (or at least don't take 30 minutes to look at one)... I have taken the time to read the past 8 days of posts here and it's sort of scary. Some of the most basic information and questions are answered in the annual report (yes internet stocks have those )...

Then you have the 30% of posts of people who are aghast that a stock that has run up 200% in 2 weeks can actually fall back 70% (You mean these internet stocks fall too!!!?? No one told me!)

If you believe in this sector, this is one of the 3-5 stocks you want to have...period.

If you take 5 minutes out of your day to even look at a chart go to
www.investools.com
and chart CMGI for 1 month.. using 5,10,20 day averages... and you see the amazing performance.. it has bounced off the 5 day continously, and only 5 times even reached down to the 10 day moving average (which is where it is now), and not ONCE even touched the 20 day moving average (which is where the serious support is) (which is at $80 by the way)

I'm trading the common and will be buying calls very soon here on this one... I see a lot of nervous nellies which is great because it creates great opportunities... but I dont understand people who invest who complain when a stock has run up 100%, then retracts 40%... suddendly they wonder "whats wrong???!"

In any correction in the sector, or the market CMGI will fall .. just like any stock.. since it has a low float, and has risen so much so quickly it has potential to fall more than average.. but if you like the sector and market short term, you want to place your buys at the 5 day, 10 day, 20 day moving averages and not buy at $150 when all the momentum money is leaving
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