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ModusLink Global Solutions, Inc. Message Board

  • SENSATIONALSID SENSATIONALSID Jan 4, 2000 5:15 PM Flag

    CMGI AND THE MARKET

    As a former MM who worked on the street for 4
    years I can tell you days like this are brutal.
    S&P
    futures made everything gap down as MM's pulled prices
    way lower anticipating a selloff, they made a killing
    on things like YHOO and CMGI which bounced back
    partly because MM's bought so much on the way down and
    partly because a few funds stepped in and bought up the
    cheeper shares. But even a strong fish can not swim
    against a strong tide forever so folks start dumping
    their shares overboard as those profitable want to lock
    in whatever gains remain and those in the red fear
    margin calls and throw in the towel as well. What is
    next?? I can not see things snapping back on Wed as
    people have to be worried and the bears on CNBC wont
    help things either. Now we all know that by November
    2000 CMGI will have split twice and be around the 300
    level so this is no big deal, but still the pain and
    agrivation along the way is really not needed.

 
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