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

To: jimmy who wrote (8955)	5/28/1999 12:23:00 AM
From: Grumman Tiger	Read Replies (1) \| Respond to of 19700

CMGI will not go to 173 again....here is why 1)On Wednesday CMGI clearly was under accumulation as the shares reached 13 million. The weak holders gave away their shares to the smart investors. 2) On that day the stock clearly completed a double bottom formation with the stock going lower than the first drop @185. 3) The stock price going forward will usually bounce around in a trading range for 8-12 days following a bottom. during this time the stock usually back fills as it did today. After this time the stock will usually break out for 6-8 days reaching a new high. 4) This time period will coincide with strong seasonal tendencies around the second week of June, (for a nice summer rally). 5) The Nasdaq just corrected about 11%. This is normal and consistent with pullbacks in the market. We usually see 10% corrections. Take a look at the past pullbacks. 6) I do not expect to see a greater correction turning into a bear market. We just had one in the summer/fall of 1998. Under most circumstances we don't get back to back bear markets. 7) Currently, negativity abounds which is common at turning points. Many experts are advising of a much greater sell-off in the internet stocks. It won't happen. Look to buy on weakness during the next week leading into the second week of June. Take advantage of the current trading range to accumulate shares at a discount. Regards to all, Grumman Tiger