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.

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

To: Grumman Tiger who wrote (8733)	5/26/1999 9:34:00 AM
From: jackhach	Read Replies (2) \| Respond to of 19700

FWIIW: > As clearly stated by many posters in the overnight and a few yesterday -- we finally have LEVEL II support at $187.00 and DOUBLE-LEVEL I support at $185.00. Unlike yesterday's respective LEVEL IV supports at $206.00 and $202.00 -- which were taken out and then some, we've finally got some desperately needed genuine support at $185.00. Explain: > LEVEL I support usually requires a minimum of over 2 times average volume for the day to sustain a break down through its resistant point (9 to 10 million shares.) > LEVEL II support requires over 1.8 times avg. volume. > LEVEL III support requires over 1.6 times avg. volume. > LEVEL IV support requires over 1.4 times avg. volume. > LEVEL V support requires over 1.2 times avg. volume. The six week average volume for CMGI is now 4.631 million shares. Yesterday's activity gave us a LEVEL III support at $191.00 having traded nearly 7.4 million shares. The problem is -- it also gave us a LEVEL III ceiling at its day high of $219.00. We longs now must now break up through $192.875 (III), $195.50 (II), $200.375 (I), & $209.00 (II) - ARGHH!!!!! I know nobody asked for this level of detail, but this method/mpodel has saved me lots of dough -- and I don't daytrade. -JH