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Technology Stocks : CMGI What is the latest news on this stock? -- Ignore unavailable to you. Want to Upgrade?

To: Robert Rose who wrote (11670)	7/13/1999 8:59:00 AM
From: Mark Peterson CPA	Read Replies (2) \| Respond to of 19700

Robert, I know I'm restating the obvious for many on this thread, including you, but that single 200,000 block purchase of CMGI yesterday said alot more to me than all the profit taking that occurred later in the day and may continue to occur through options expiration this week. If you're on real time, you watch time of sales and Nas Level II. Shows every trade, the related bid, ask, and the size (number of shares) bid and offered. Although others may use the data differently, when I see a trade get filled at the offer, it's clearly a buy. When I see a trade get filled at the bid, it's clearly a sell. And it's not at all unusual to see orders filled a quarter point or more below the bid or above the offer. Those are "market" orders where somebody just wants out or in and effectively are saying, "here, fill me anywhere and be sure you let somebody else get the best of the trade (i.e. screw me)" And when the order to buy or sell is in size (large number of shares), it is usually filled above the offer or below the bid amount. There just weren't that many shares bid for yesterday at the time this order was crossed. So, under the normal and customary market conditions if it were a sale, it should have been filled possibly several points below the bid. But this was filled on the offer instead. So IMO, somebody wasn't showing a bid to the public and wanted to buy the CMGI shares without paying up for them (i.e. 2 or 3 points above the offer). So, they just waited for the opportunity. Mark