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Technology Stocks : CMGI What is the latest news on this stock?
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To: Tony Harper who wrote (6452)3/23/1999 4:36:00 AM
From: Gary105  Read Replies (3) of 19700
 
Short term, TA works exceptionally well for this stock. My previous post on this subject was that the Bollinger Bands were narrowing indicating a smaller range for at least a few days

iqc.com

Given its historic volatility, this most likely will be followed by either a breakout or a breakdown - impossible to say at this time. I would not be surprised by the latter as it would set up another buying opportunity - which would be the fourth buy/sell cycle this year.

I only caution about getting too greedy with this stock for those who are not long term holders. It is trading about 3X its 200 d MA which is rich in my opinion. A correction or extended sideways movement would be very healthy for its chart.

Fundamentally, YHOO is setting the cap. on other net companies. It is healthy to see YHOO trading basically sideways. But this does set a cap on other companies as it should. Earlier in the year CMGI was selling at $4B/$45B or about 10% or YHOOs value. Today CMGI is selling at $8.3B/$33B or about 25% of YHOOs value. It cannot go much higher without the leader going higher imo. CMGI's stock price is becoming a victim of its own success.

Short term I think there is more value in quality web stocks with market caps in the $1B or sub $1B range - quality and undervaluation compared with peers are the keys.

Gary
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