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Technology Stocks : CMGI What is the latest news on this stock?
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To: Scarecrow who wrote (8825)5/26/1999 6:42:00 PM
From: jackhach  Read Replies (1) of 19700
 
Sacrecrow,

>> Your groundless predictions are wildly inaccurate <<<

I'll preface all of my point by point explanations with the following:

I fully admit that I did not anticipate the persistence of the sell-off. Now having said that -- these are my replies to your clearly one-sided review of my posts.

1) Reply 8601:

It did take 7.4 million shares to break those levels -- with the $202.00 level not sustaining a true break till the last hour of trading. CORRECT! That is more then 1.6 X average volume.

2) Reply 8601:

>> ever-increasing volume <<

We had 1.7 million shares trade on Thursday, 2.7 trade on Friday, 5.1 trade on Monday, 7.3 trade on Tuesday, and 12.1 today -- what about tomorrow? CORRECT!

I did sincerely think that the $205.50 bottom was confirmed -- which I admitted later that day was wrong, but not GROUNDLESS with having 3 million shares traded and the stock trading higher at that point.

3) Yesterday afternoon:

I did buy yesterday and today, thank you very much -- and DCA my position down. Thanks for my account reconciliation.

I admitted a few times today and yesterday that I got ahead of myself in expecting the bounce to occur before it tested $185.00. Again, it took 12 million shares to fail at a sustained breakthrough.

4) Grandma's camp is months/years -- not hours/days!!! Was my point.

5)I saw the $173.50 bottom today (as any chart would show), and I said if the stock holds above $185.00 (as it did) -- we will then start heading towards the $200.00 test. Which it is now doing and will likely break! CORRECT! The $173.00 proved meaningless!

BTW, when I said I do not use a chart, I meant I do not use it exclusively to make all of these "groundless" predictions.

6) SUSTAINED breakthrough is the key -- not temporary ones. A sustained break through is when you CLOSE below the resist point. This, I'll again admit, I was not clear enough on in my earlier posts. We did not experience a close below $185.00 today -- SO IT DID NOT SUSTAIN. CORRECT AGAIN!

Best to you!

-JH

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