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Technology Stocks : CMGI What is the latest news on this stock?
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To: George Martin who wrote (8242)5/15/1999 4:00:00 PM
From: James Thompson  Read Replies (3) of 19700
 
CMGI did very well on Friday, and MSGI even better considering the poor market conditions.

I can't believe how fickle the market is but I am learning very fast and making plenty of mistakes along the way. Take the CPI numbers for example. Anyone with a brain can see that any inflation was driven by high fuel cost numbers which are already on the way down. Here in California gas prices went from the 90 cent range to the 1.70s in a matter of two weeks when this contrived "refinery crisis" hit. Shortly thereafter the oil companies were quoted as saying that they still had plenty of reserves and production capability, but they were not going to lower prices anywhere near as fast as they increased them.

Whsh I had the foresight to invest in Silknet the day after the IPO last week. It hit the market during a down week for net stocks and did very poorly, dropping to within 50 cents of the listing price of $16. It hovered in the teens and low 20s for a few days and started up. Closed over $40 yesterday. I had a gut feeling that the low price was due to the current market conditions only, and as a CMGI company it would only need time to make it up, but I did not have the courage of my convictions.

IMHO MSGI will do very well over time.

Good luck in the coming week. Jim
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