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Strategies & Market Trends : Point and Figure Charting

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To: Lane who wrote (19493)	5/4/1999 5:29:00 PM
From: Judy	Read Replies (1) of 34808

Lane, Silknet will IPO tomorrow and cmgi owns 18 percent of it. After the IPO I'd like to see if cmgi sells off with the sector or forms base at current levels. My sense is that cmgi may pullback to its trendline at 213ish under market pressure, in any case I expect a retest of the 225-226 resistance level. May 230p on pullback to the trendline or May 250p if it looks to base above the 225-226 level. What is your read? Not prudent to be more aggressive until sentiment for the sector improves.

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