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

To: AmericanVoter who wrote (8802)	5/26/1999 4:00:00 PM
From: jackhach	Read Replies (1) \| Respond to of 19700

The reason why it is not popping easily through $200.00 is because of the same reason it could not sustain a drop below $185.00. This is a resist point that will need to be grinded down. The daytraders will now short at $200.375 and buy back at $191.00 (maybe yesterday's low) -- and then will repeat this till (and if)the hole fills between the two points. They basically get "squeezed out" of the play. Once the $200.375 barrier is legitimately broken. They start the whole process over by shorting the stock at the next resist point -- which is $209.00 (yesterday's high). They then run-it-down back to the new floor (just built) at $200.375 only to buy again and so on... Whereas the broader fundamentals dictate the overall direction of the stock; daytraders are not so much concerned with these matters (as longs must be) -- they are simply interested in getting off the roller coaster and getting right back on. There is enormous money to be made in doing this with some level of accuracy/precision. Not, however, for the faint of heart. There are many inherent risks. The largest being -- institutional influence. Some institution may simply buy/sell a ton of stock at a given point with mindless regard to the day play. In fact, it is the institutions that will basically determine the ultimate fate/state of a stock as a rule. -JH EDIT: Notice it stopped at exactly $200.25 <--- this is no coincidence. This is a false high. You can probably expect it to drop back down to $191.00 in morning trading, with traders possibly confusing us with another false low of $187.00 by noon.