CMGI

[David Randolph]

CMGI, Inc.(CMGI). The Group's principal activity is to provide industry-leading global supply chain management services and marketing distribution solutions.

Here's that pattern again, a trap has been made and now every bear has to run for the exit, not in the long term, not in a few days, but right now:



Altough we have a long white marubozu on the candle chart I have to wait to see the reaction to that descending blue trendline. If CMGI opens about unchanged and then crosses $2 I'll have to buy it.

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[David Randolph]

... that descending trendline has put on a brake on CMGI's advance. I'll continue watching the stock until it crosses that resistance line.

[David Randolph]

CMGI, Inc. (CMGI). The Group's principal activity is to provide industry-leading global supply chain management services and marketing distribution solutions.

Some days ago I tried to buy CMGI, but I asked for the stock to cross the $2 resistance. Back then it couldn't do that. But now the train is moving and now is the right time to jump in and buy CMGI:



I don't like the technical picture of the Nasdaq as a whole (VXN is at an all time low - dangerous), but that doesn't mean anything for CMGI in the short term.

I just hope it doesn't open gap up - if that happens I won't buy. Lower open and higher close is what we want.

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[boatguy]

Interesting, I found another blog that has the exact same rec., using the same words!

Is someone cutting and pasting your recs as their own?

Do you post on another blog?

Email and I will give you the link.

[ELR]

Are you going to wait for the open to insure it doesn't gap up before buying?

thx,

elr

[David Randolph]

... on any other board. I've sent you a private message (trough this board) so you can give me the link.

Thanks boatguy ! 

[David Randolph]

... I'll buy just if open < $2.20. I'll watch it on the pre-market and buy the open if it is set to be lower than yesterday's high.

If not I'll wait for another chance, or another stock, there are 11000 competing for my money 

[boatguy]

Link sent-

Looks like it posted 20 min or so after your rec.

[David Randolph]

Lower open as I needed, I buy without doubt.

[AussieTrader]

Big battle here at $2.34 resistance today, vol came it as it got nearer either it gets sent back and fails to advance or will break through with some power will see...

[David Randolph]

... as aussietrader points out, we have a minor resistance at $2.34. But I see CMGI is now in a better position to cross that level than in the past ... you see, volume is higher this time than the last time, so more money is involved in betting CMGI will go higher. More money wins over less money, no question about that. The only thing I'm worried about is the general market (it may correct now - but that's hard to predict - read Quote from Jesse) but I think it is possible for CMGI to disconnect from the general market in the short term.

[AussieTrader]

Lets see what it does now

[David Randolph]

... there's nothing for a man to do with this stock than to sit tight and hope profits grow more.

[eliteG]

Heads up:

Earnings for CMGI on Monday, June 6th, After market close.  Are you holding through?

WALTHAM, Mass.--(BUSINESS WIRE)--May 23, 2005--CMGI, Inc. (Nasdaq: CMGI - News) will release financial results for its third fiscal quarter of fiscal year 2005, ended April 30, 2005, on Monday, June 6, 2005 after the market closes.

http://biz.yahoo.com/bw/050523/235943.html?.v=1

[David Randolph]

... let me see. I'm no financial analyst so I can't tell how the results are going to be (neither they do  ). I know the stock was doing great with several consecutive white candles, so many people were having profits from CMGI.

Today I see hard selling in the stock, probably because of that earnings release. People are with profits and are selling because they're afraid of losing those profits. That's not a good motive to sell, I believe bears are wrong on CMGI.

I'll probably hold.