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6/11/99 CMGI Inc (CMGI)
Points to watch: The stock is currently down 5 points with an ask of 96 1/2 in pre-open trading after reporting disappointing earnings. The next downside support is near 88 3/4 which the stock held on a 3 day test from 6/2-6/4. 88 3/4 is the 62% retrace of the stocks 2/10-4/13 rally. Also watch the 50% retrace level (102.25) on the upside if the stock reverses. A strong sell signal would be generated with a break below 88 3/4, and a short term buy signal would be triggered on a move above 102.25.
