Covered the shorts ,, going long only,,,
Look ,, we have Russia out of the way ,, the fear ,, the unknown is out of the way now,,
Japan's EPB and MITI has to support Yen ,,and I am sure G-7 will do same,, since when yen goes,, China will go ,, that means worldwide recession,, famine,,war, and chaos,, if you have noticed,,in spite of Nikkei's downfall,, Yen is staying at better than 143 level,, I believe that there is a concerted effort by Japanese and G-7 to support it,,
Dow 7900 always has been a watershed.. by all the talking heads,, so was 8100,, we had it,, and we will perhaps see the 7900,, but I rather have that room for comfort ,,between the 7900 and 8000,,
Market has gotten beaten in relations to sector ,, but as you and I have observed,, all day ,, we have seen more buys here at this level than sells ,,
I see down side perhaps ,, in case of another bad news ,, at 46 - 48 ,, but I am willing to risk that 2 to 4 points as a room for my comfort.. for CMGI will trade up or down 10 points in 2 minutes flat,,,
This stock is not for weak hearted,, nor for the dogs..
We spend more time buying a friggin tire or a tv set than ,, we buy stocks,, I suggest ,, that many of you who have looked into CMGI ,, do a complete due dilligence over the week end ,, and see where your tolerance level is ,,and where the internet,,specifically CMGI under Paul Allen's leadership is going...
I have bought 12,000 shares today ,, and have left a reserve to buy another 10,000 shares ,, in the event of such an event..
Yes I am not short here,, for over the week end ,,any bullish remarks by MMs,, who will be returning from Hamptons.. will rock this market back to positive ,, in equal force..
What bad news have we got left now ?
Yeltsin out of the way ,,
Latin America out of the way ,,
Japanese will not blow all the zillions of investment in Asia and the good will they have built for past some 20 years ,,post WW II angst in Asia ,, by letting Yen fall,, even though there will be less rice in their own bowls,,
We might have Laden popping some bombs,,but it will let Bill wag the dog more..
So caveat emptor my friend ,, and indeed spend more time studying your investment than on a chick ,, you just met at a bar or that silly new car ..
Lastly we are at June support level here.. a good bounce off point..
Like last time when I was in Venice,,a few weeks ago ,, CMGI at 62 ,, making 240,000 bucks ,,, I feel lucky ,, here ..
Yiiiiiiiiiiiii Haaaaaaaaaaaaaaaaaaaaaaaa
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