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Registered User
Joined: 12/31/2004
Posts: 382
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I'm going too wait for a few days to see if it can start making a w. MoneyStream looks good but BOP does not work on CMGI. If this base does not hold then it might go to $1.60. The charts does not look too good but I do see it might be working on the W. Which could go too $2.20 too $2.40.. the next few days might show which way its heading.....
(typos corrected by Moderator)
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Registered User
Joined: 10/7/2004
Posts: 2,126
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Raymond it seems to me like you are hoping and seeing more that it is really there.
There is no W bottom formation.
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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QUOTEI'm going too wait for a few days to see if it can start making a w.
I think the key to his statement is "start making". With the bottom of last month now being tested a double bottom may be forming. I don't read his post as claiming the double bottom has formed yet.
As a side note, look at the positive divergence in TSV18 (low now vs. low in January). TSV has been positive during the most recent decent to the January low.
We shall see!
- Craig
Here to Help!
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Registered User
Joined: 10/7/2004
Posts: 2,126
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Dear Craig, for one thing there is not beginning of any W,Y, Z or whatever you want to imagine therefore the start of doesn't apply here. The trend is down (look P&F)
Now, I see your positive divergence on TSV 18, but ROC,and MO are not. And so will TSV 18 bring the stock up; probably not. Neither there is any volume indication to a price change to the upside right now. There are many more technical indicators pointing to the negative side of this stock than to the upside.
For the very long term who knows where CMGI may go, as for the very short term is not going to be up. I always look at the very short term before, then I ride the longer term if the short term takes me there; meaning I do not marry any stock. Show me first and then may be I joint.
Take a look at P&F chart and you will agree it doesn't look too promising. The only thing I think is keeping the stock from bottoning is its industry.
I have dealt with indicators for over 11 yrs to conclude that you will always find some indicator which will tell you what you want to hear, don't.
Simplicity is key, and in this game you deal with people. Institutions, big players, the market maker, individual investors and traders. It is all about people and their mass reactions to different events. It is not about technical indicators. Try to mimic the market maker on any stock and you will make more money than following CCI, or TSV, or whatever.
Only one indicator helps - volume
Price and volume is all you need.
Just in case you wonder I have not subscribed to TC2000/net for over 5 years for any indicator, but for the scanning and sorting capabilities.
As for my comments to raymond weren't meant to be harsh, but just a look a reality.
Hope is one of the greatest enemies of investors and traders. You do not want hope in this business, you want the cruel, and cold reality. It takes a certain level to get to that point where hope is not existent anymore and reality is all that counts. So if the stock drop get out and find a better honey. If you are stupid enough to watch a stock drop while holding to your hope, then you are a beginner I sympathize with them since we all have been a beginner at one time or another. But my advice will be what it is now. Get out and find a better honey. There are many stocks outthere much better looking that CMGI. Find them and play them.
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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I think you have misunderstood my post. In no way was I indicating my feelings about the future direction of the stock. I only saw the TSV divergence when I went to look at the stock after reading the post.
QUOTEAnd so will TSV 18 bring the stock up?
No indicator brings a stock anywhere - up or down. Trading brings the stocks to where they end up. I am sure we agree on that.
QUOTEThe only thing I think is keeping the stock from bottoning is its industry.
Like indicators, industries don't keep a stock anywhere... buyers and sellers do. Now their perception of indicators or industries may affect their trading but it is the trading that affects the stock. I am sure we agree on this as well.
QUOTEthere is not beginning of any W,Y, Z or whatever you want to imagine therefore the start of doesn't apply here
I respectfully disagree here. Any chart pattern starts somewhere and there is no harm in identifying a potential formation coming to possible formation and tagging the stock to follow from there.
QUOTEFor the very long term who knows where CMGI may go, as for the very short term is not going to be up
I agree with the first part but argue that NO ONE knows where ANY stock will go tomorrow, next week, next month or next year. We can all make our best educated guesses but stating a stock WILL go anywhere is stating a fact beyond anyone's capability.
QUOTEOnly one indicator helps - volume
Price and volume is all you need.
The only things that are real on a chart-I agree. They trump everything. I do enjoy using other tools to manipulate these elements to help uncover something I might miss by just looking at them.
QUOTEJust in case you wonder I have not subscribed to TC2000/net for over 5 years for any indicator, but for the scanning and sorting capabilities.
Thank you for using us for so long. I am glad the tools we produce give you enough benefit to justify the cost.
QUOTEHope is one of the greatest enemies of investors and traders. You do not want hope in this business, you want the cruel, and cold reality. It takes a certain level to get to that point where hope is not existent anymore and reality is all that counts. So if the stock drop get out and find a better honey. If you are stupid enough to watch a stock drop while holding to your hope, then you are a beginner I sympathize with them since we all have been a beginner at one time or another. But my advice will be what it is now. Get out and find a better honey. There are many stocks outthere much better looking that CMGI.
I generally agree with all of this. I got no indication from his post that he was vested in the stock. I read his post as an observation with potential upside and downside targets. Each of his bullish statements was balanced with a bearish one. More importantly, he ended by saying that there is nothing clear to be seen now and he was going to wait and see. I saw no harm in that.
Again, I have no opinion about the future of the stock (I don't share my opinions on stocks anyway). I only wanted to make clear for others reading the thread that he only mentioned the potential start of a pattern and happened to notice an interesting TSV pattern others might find interesting.
I regret if you read my post as offering an opinion of the future of the stock. That was not the intention. Please do not see this or the previous post as a challenge to your knowledge. I am only sharing my thoughts as you share yours.
...may all your trailing stops go up and up!
- Craig
Here to Help!
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Registered User
Joined: 1/1/2005
Posts: 2,645
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[quote=Craig_S]QUOTE
As a side note, look at the positive divergence in TSV18 (low now vs. low in January).
Craig,
I am unable to discern a TSV18 Simple positive divergence (low now vs. low in January). Please explain.
Thanks,
Jim Murphy
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Notice the low price formed in late January.... price is now trading near those same levels.
Compare this to TSV. TSV is now not near the levels it was back at the same point in January. Price has similar lows, TSV has a higher low. TSV has also been postive (above zero) for most of the recent decline. It even made one higher high in the middle of Feb vs the high it made in the beginning of Feb... while price was making lower highs.
Just an observation... we shall see what happens from here and if the January low will hold or not. Be sure to read Peter Worden's note on the stock on 1/31. It is a great lesson on using MS and TSV (IMHO).
- Craig
Here to Help!
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Registered User
Joined: 1/14/2005
Posts: 9
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You need to find real stocks with real stories making real money. CMGI is not one of them.
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Registered User
Joined: 12/31/2004
Posts: 382
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I do appreciate all the respond on CMGI and I think in march they well report there earnings.. Then all of us well see if there cash flow f geting better.I do like here from all side of a stock....I can take any comments..I do apprecaiate worden telecharts very much and told my freinds too give them a try its free for 30days .oh I have bought CMGI last month and sold it for a profit.lets this take about CMGI see were its going..So we can make more money on it ...we all know there is low volume and ms still not too bad .but the other charts donot look good.we see if CMGI were stay around 183 oh go down
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Registered User
Joined: 1/1/2005
Posts: 2,645
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1) Barring unusual behavior, TSV18 Simple on the Daily chart will drop on Friday and Monday to well below the zero line.
2) Please place 02/23/05 on the right edge and switch to the 3Day chart. TSV18 Simple dropped drastically to a low not seen since August 2002.
Thanks,
Jim Murphy
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Registered User
Joined: 12/31/2004
Posts: 382
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I thought that CMGI maybe would start making a w .well I never thought it would go up like this .the charts did not look good at all but now the charts looks better...
Any thoughts on CMGI now?
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Registered User
Joined: 2/19/2005
Posts: 38
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Appears to be a classic descending triangle to me. I'd not get excited yet, it hasn't broken out and its generally a bearish pattern. If it breaks above the 50 MA (Bullish - 2.08) or below the 200 MA (Growl - 1.68) then there's your confirmation.
But hey, the 11 cent bounce was worth the rub...
:)
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