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Registered User
Joined: 12/8/2004
Posts: 30
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Take a look at CMGI 3 day chart zoom=3 and tell me if that is the handle of the cup forming on nice volume. If I am remembering my education the handle should not correct more than 10% which is where it is now. It would appear to have 7 down days in a row by a quick look but several are morning gappers to the upside. Great BOP and TSV is hanging tough Moneystream flying high. Also I may be reading too much into this but look at a bar chart daily zoom=4, notice the tightness in the bars through the fall, then end of November it started stretching its legs (bars) ready for a run?? I think it is a buy on the bounce and the breakout point looks like it should be $2.70
Any comments?????????
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Registered User
Joined: 10/7/2004
Posts: 2
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IcanSee4Miles, on a 9 day zoom 4 cmgi appears to be coming off a handle of a cup that has a rim at the end of '01 and beginning of '04.
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Registered User
Joined: 12/8/2004
Posts: 30
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I know there are a lot of cup with handle formations sighted, but I was taught (learned) that a true cup and handle generally lasts (the most accurate ones) 3 to 6 months, can go a little over a year but that is rare. Also total price correction is limited to a max of 33% with the usual (best) being in the 12% to 15% range. The one you suggest has a high of $3 all the way to below .50 cents if I am seeing it the way you said to. IMHO
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Registered User
Joined: 10/17/2004
Posts: 43
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QUOTE (ICanSee4Miles) Take a look at CMGI 3 day chart zoom=3 and tell me if that is the handle of the cup forming on nice volume. If I am remembering my education the handle should not correct more than 10% which is where it is now. It would appear to have 7 down days in a row by a quick look but several are morning gappers to the upside. Great BOP and TSV is hanging tough Moneystream flying high. Also I may be reading too much into this but look at a bar chart daily zoom=4, notice the tightness in the bars through the fall, then end of November it started stretching its legs (bars) ready for a run?? I think it is a buy on the bounce and the breakout point looks like it should be $2.70
Any comments?????????
I don't think it's a CWH because it corrects too much (>60%)and a handle should drift lower on light volume not bounce around wildly (okay it was pretty sedate in the handle until the Worden note on 12/29 - did that cause the bounce?????). On the other hand I do like the chart which shows nice TSV and MS ahead of the price and a good natural loss-cut below the low of your "handle" - I'd like to find time to check out the video and will be watching CMGI carefully for a longer term buy once the current market weakness resolves itself.
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Registered User
Joined: 12/8/2004
Posts: 30
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I will look at it again thanks.... anybody else have any thing to say on CMGI.. please feel free
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