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Technology Stocks : CMGI What is the latest news on this stock?
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To: SJS who wrote (5949)3/13/1999 4:01:00 PM
From: B. A. Marlow  Read Replies (2) of 19700
 
Incisive coverage of the "issues," SJS.

A nice piece of work.

You lay out all of the conflicts in perception and sentiment.

Maybe the best strategy for a trader is to wait for the dust to settle and catch the next news-driven up-leg, leaving a pile of points on the table. That's your MO-MO maneuver. But traders will burn a lot of energy second-guessing the dynamics. They're always a press release away from a melt-up.

In my own case, I thought that yesterday's weakness was enough of a current buy-in opportunity that I took Jan 01 160 LEAP calls for $67 and change. If CMGI tanks more (it could close the gap in the low $150s), I'll buy higher, out-of-the-money, strikes as well.

Frankly, I see this Internet stock valuation contest as a tempest in a teapot. It's certainly fascinating. But it's a Monica-like contrivance created by the media and it won't have legs. The LCOS deal will get "fixed" or done elsewhere; the smart money knows this. (With the same deal points, the whole mess would have been avoided in the first place if LCOS had simply been set up as the acquirer.)

In the meantime, they're *giving away* CMGI. AOL's market capitalization is 10+ times CMGI's; CSCO's is 18+ times CMGI's. Free money here.

BAM

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