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ModusLink Global Solutions, Inc. Message Board

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  • tech12_98 tech12_98 Jan 18, 1999 1:58 AM Flag

    What to do if you purchased CMGI @ $154

    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.

    Tech

    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.

    I
    intend to stay with the CMGI
    ride.


    http://www.ragingbull.com/mboard/search.pl

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    • 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.

 
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