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Technology Stocks : CMGI What is the latest news on this stock?
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To: Craig Rogers who wrote (6965)4/12/1999 9:03:00 PM
From: bargainman  Read Replies (2) of 19700
 
It's all quesswork. I thought I was being slick when I sold last Friday at 256 1/2, figuring we'd see the kind of retrace that followed the runup to 226 a few weeks ago. But nooooooo! When I checked in this morning and saw that it was just a few points under the Friday close, I scrambled to get back in at 261. Man, it's like feeling the bullet whistle past your ear. I am less tempted to sell now at 302 than I was at 256. There is no reason that I can see to expect a significant correction before the May split. Nothing has changed, except perhaps a few more people and institutions have discovered us. The funds have been very slow to respond to Internet stocks. I scanned the Morningstar tech leaders recently and found a mere sprinkling of internets in their portfolios. They can't stay away much longer. I pulled all my money out of mutual funds last year and started doing my own stock picking. I kept my last mutual fund portfolio, which was a fairly aggressive one as funds go, in my DLJ program to compare progress. I have more than doubled my portfolio value since last August, when I dumped the mutuals. All I see is more institutional money coming in, more IPOs to pump the price and years before the true ceiling of CMGI can be truly calculated. Just my opinion.
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