Silicon Investor (SI) -- The First Internet Community

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.

Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: IQBAL LATIF who wrote (27187)	6/24/1999 12:17:00 PM
From: Jeff Jordan	Read Replies (1) \| Respond to of 50167

We blew right through the $NDX support...I'm concerned about the negative momentum going into the FOMC meeting...Will we see a relief rally Wed? I'm not very confident about tomorrows trading...I suspect volume will be low. I think I'll be looking for bargains Mon-Tue. It appears the market wants to have a small blow-off...but after Mon-Tue it's not a surprise..... today's watch list holding rather well...many may be LT holds.. 127.0.0.1:3456/SI/~wsapi/investor/reply-10250747 Jeff

To: IQBAL LATIF who wrote (27187)	6/24/1999 3:03:00 PM
From: IQBAL LATIF	Read Replies (2) \| Respond to of 50167

DOW tested 10471... I wrote ---this....this saves me from whipsaw trades, my levels hold like magic as we saw today.. I hope we can continue with this appreciation of the market, my read on bond and bund divergence is very important in my opinion this read in originality is of equivalent importance of 8th Oct when I saw the bond breaking and went long at 1310 support on Comp on 8th Oct, US treasury is being sold for wrong reasons..bund is a short but US treasury is a long.. <<Thursday, Jun 24 1999 11:50AM ET Reply # of 27192 from IQBAL LATIF on Jun 24 1999 3:28AM EST --- 1330 support..For me NDX support at 2206 is important to hold, if we take this out I will be cautiously play on the short side.. I will not like to see a close of DOW below 10470, a single day closing break of 572 on DOT or 295 on IIX will lead me to sell my trading positions.>>

To: IQBAL LATIF who wrote (27187)	6/25/1999 4:08:00 AM
From: IQBAL LATIF	Respond to of 50167

CMGI Looks to Bulk Up -- An Investment Opinion by Louis Corrigan <<Davis still feels like Wetherell betrayed him, and it seems highly unlikely Davis would stay around if CMGI acquired Lycos. Moreover, it's not likely Davis will approve any deal that doesn't assure Lycos shareowners an obvious premium to the $127 per share price Lycos brought before the USA deal was announced. Given that Davis seems to think CMGI's shares are overvalued, he won't easily accept them as currency. >> CMGI Inc. (Nasdaq: CMGI), an incubator of Internet companies and a darling of online traders, today confirmed what's been rumored the last couple of days: It's talking to Compaq (NYSE: CPQ) about acquiring a controlling stake in the troubled computer maker's Web properties, including Alta Vista, a leading search engine and major Internet destination site. At the same time, CMGI is interested in acquiring the roughly 82% of Internet portal Lycos (Nasdaq: LCOS) that it does not already own. Either deal could raise CMGI's high Internet profile by making it more of an operating company. Thus far, it's been run more like a venture capital firm, funding start-ups, fostering their growth, and then taking them public. Media Metrix (Nasdaq: MMXI) ranks Alta Vista among its top 10 most trafficked websites, with a 14.5% audience reach in May, good for about 9.5 million distinct visitors. While that's less than a third of Lycos' reach, it's still substantial, ahead of the NBC venture Snap.com. The problem is that Compaq picked up Alta Vista when it purchased Digital Equipment last year, then basically forgot about it. Meanwhile, Yahoo! (Nasdaq: YHOO) and other search engines continued to expand their content offerings, taking what had been mere search engines or directories and turning them into Web portals. Only late last year did Compaq start making peculiar moves to beef up its Alta Vista offering (such as its high-priced acquisition of shopping.com, an e-tailer with a dubious history). Talk that Compaq would spin off these Web properties pushed the computer maker's shares to an unwarranted height. A deal on the Alta Vista front seems possible, though it may look different from the $2-$3 billion purchase initially reported. With rivals like Dell (Nasdaq: DELL) and Gateway (NYSE: GTW) building up their own online stores and Internet service offerings to cash in on their excellent relationships with customers, Compaq can ill afford to simply drop its online initiatives. At the same time, though, the company has shown no skill at managing them. Finding someone with Web expertise to carry the ball would be a smart move for the bloated Compaq, which needs to focus on carving out a real core business from its multiple acquisitions in recent years. For its part, CMGI could use Alta Vista's popularity to grow its less established businesses while also enhancing Alta Vista's content and service offerings. That's a must if Alta Vista expects to have a chance of competing with the few major networks now consolidating mainstream Web traffic. CMGI is also looking to boost its operating assets to avoid being regulated as a mutual fund, which would entail onerous tax consequences. Currently, about 71% of CMGI's total assets are in the form of investment securities. It needs to trim that figure below 40% by the end of October. In the past, CMGI has squirmed out of this bind by selling shares in its publicly traded companies, such as Lycos. But acquiring a majority stake in Compaq's Internet properties would solve that problem and in a better fashion. Though a revamped CMGI focused on running a consolidated network of Web companies would benefit from Lycos, such a deal won't come cheap. As the Wall Street Journal reported today, talks between CMGI's Chair/CEO David Wetherell and Lycos' Chair/CEO Bob Davis haven't gotten very far. As a Lycos board member, Wetherell had initially signed off on the complex deal for Barry Diller's USA Networks (Nasdaq: USAI) to acquire Lycos in an arrangement merging online and offline assets. When Lycos shares fell on the news, Wetherell dropped his support and eventually resigned from the board. Those moves basically scuttled the pact since CMGI controls such a huge stake in Lycos. Naturally, Davis still feels like Wetherell betrayed him, and it seems highly unlikely Davis would stay around if CMGI acquired Lycos. Moreover, it's not likely Davis will approve any deal that doesn't assure Lycos shareowners an obvious premium to the $127 per share price Lycos brought before the USA deal was announced. Given that Davis seems to think CMGI's shares are overvalued, he won't easily accept them as currency.