Patience is a virtue. Go to RagingBull.com message board and read some posts there. You will be convinced to stick around for long term growth.
Take my example in buying into the momentum. I did that last year on emotion rather than just waited for a profit profit taking. Last year, just prior to GCTY IPO, CMGI started its previous record run, I got caught up to the momentum and bought 36 shares for my Roth IRA account at $85 (presplit). CMGI promptly went higher to $91+. After that, it was all down hill.
I have done a lot of research on CMGI and know that it's a great play in internet stocks. I view it as an internet mutual fund. That was the main reason why I never sold my shares below what I bought. I hung on and hung on longer as I saw CMGI went lower and lower. It was like an avalanche. Well, CMGI finally dropped all the way to $35 1/8 on that faithful day that I emailed my sister to tell her buy more since I thought it was the bottom. It was October 8th, 1998. I wished I had more money at that time to buy more, but unfortunately, I had a margin call for about $5K. Yes, it was very scary, just like last week. Unfortunately for My sister, she didn't buy any of my recommendations (CMGI @ $35+, INKT @ $53+, and DELL @ $40+). It was I who told her to wait, though. I emailed her in the morning, but buy noon, as the market continued to slide, I got scared and told her to wait. It probably was a good idea to wait anyway since you don't want to catch a falling knife. It is extremely difficult to catch an absolute bottom, but I came pretty close. The next day, the market rebound because Greenspan lowered interest rate (I can't remember the exact detail). Heck, if my sister just took the plunge anyway after CMGI, INKT, and DELL started to rebound, then she would be in great position right now. I guess it wasn't her time. She and her husband are ultra-conservative in my book. They have a margin account, but dont' want to take a chance when great opportunities knocked on their door.
The moral of this story is that "patience is a virtue".
I don't have a crystal ball, so I don't know where CMGI may be a month or two from now, but I believe in CMGI and its management a lot (especially David Wetherell) that I know for sure CMGI will be one of your best returned stock ever in the next 5 to 10 years. Stick around and enjoy the profit. Buy only the money you don't need and stop worry about the short term volatility.
Good luck to all.
P.S. I bought my first shares of CMGI for my wife's Roth IRA account in March, 1998 at $55 1/6 (2 splits ago) and sold at $74.50 (after one split) for a cool $15.5K gain. I then bought back some for my IRA account and her new Roth. I also bought a small amount at $46 (presplit) and sold at $53 1/4 (too early - these were just for quick profit). Just last December prior to earning, I decided to buy a bunch on borrow money at mostly around $73+ and then bought more at $119 (both presplit). My latest purchase was at $129.50, which I am in the RED.
Hi Tech, Like you, I am in at 127. This co. has its hands in so many of today's successful internet stories that they will be doing fine yet again this year! It is not as thought they are small no-name co. with nothing to offer. See you at the top Good luck.