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

To: Iceberg who wrote (328)	4/12/1998 8:07:00 PM
From: Jonathan Brown	Respond to of 19700

Iceberg, the same has happened with me, with an added twist. A couple of weeks ago I entered a buy order on CMGI very near the close. It didn't execute; oh, well, I thought. The next day I get an electronic confirmation from Datek telling me the order went through the following morning at the open--several dollars higher than the preceding day's close. Within a couple of minutes the bid was $4 lower. An ordinary day with CMGI. Incidentally, I asked Datek why a day order got filled the next day. Silly me, I thought an unfilled day order simply expires. In Datek time, an order that doesn't execute after the close remains open through the next day. Luckily it wasnt a 1,000-share order, so I feel I got my lesson cheap. Even so, be advised: a "day" may not mean the same thing to your broker as it does to you. Incidentally, I'm not a daytrader. I take speculative positions and hold them as long as I feel it's warranted. Nevertheless, I don't like paying a couple of dollars in the spread to market makers. I was under the impression that under Nasdaq reforms, gaps of that sort were to be the exception rather than the rule. Apparently that doesn't apply to CMGI.