cmgi-TRADE IT Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : cmgi-TRADE IT

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: neelu who wrote (2)	5/27/1999 1:51:00 AM
From: Grumman Tiger	Read Replies (2) of 13

Neelu, So far it looks like we are the only members using this board. Congratulation on your successful day trade. I was close on my prediction of the double bottom followed by strength on CMGI. I was wrong on the depth reached of 173. I should have know better. Most good double bottom formations have the second dip going lower than the first. We saw that today. When it happens you have to be fast on your trade as the final bottom usually comes and goes very quickly. Usually only several minutes in duration. I bought the 220 call option when CMGI hit 181. At the close it had gained 66%. I am still holding it as expect strength tomorrow. I am not a pure day trader, but more of a situational trader. I will try anything that works. Prediction for tomorrow...Should I dare attempt! The stock will gap open due to uniformed investors jumping in for the split. Day traders will then push the stock down somewhat due to profit taking, then sometime during the day the stock will take off making a nice gain pushed by some institutional investors grabbing shares at a discount to CMGI's potential. My recommendation is to watch for a slight pull back in the morning (perhaps 5 points), then dive in and wait for strength to develop as the day progresses. Many professionals are advising that the correction will continue. I disagree and feel strongly that we will not see 173 again. If for some reason I am wrong about tomorrows prediction and the stock closes down tomorrow, I still see CMGI entering an uptrend, so your potential loss should be short lived. I will be buying more call options on any dips of 5 points or greater. I am looking to liquidate them at around 240, a good support level. I am ultimately looking for CMGI to hit 400-425 share before July. I have some excellent ideas going into the July period. Let me know what you think. Hopefully we can make some more money tomorrow. This is fun. Regards, Grumman Tiger

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next