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

To: jackhach who wrote (9219)	6/4/1999 10:40:00 AM
From: JScurci	Read Replies (2) \| Respond to of 19700

When USA Networks was in their brief tussle to acquire LCOS; its investment bankers estimated that an astounding 65% of LCOS shares were then held by "daytraders". As a former professional trader it saddens me to know that most of these are those that recently quit their Day jobs in the real world to become "Day-Traders." Yes, they are neophytes. As far as those few institutional types that purport to own the stock, I submit that they are merely renting the stock, i.e. playing a skillful round of musical chairs - long while the lemmings are still piling in but quick to kick out when the momentum reverses. By the way go spend a day at the portfolio shops at the Fidelitys, Janus Funds, Invescos, etc. and notice how many of their managers are "kids playing with other peoples money." regards, John