Quick Long Trade: CMGI
Posted on September 12th, 2007 in Long Trade | Comments Off
[[CMGI]] was an old high flying stock at $150 in 2000. It is a fallen angel stock that plunged down to just under $1. For the past year I have been in and out trading for quick wins. Well I went in today at $1.50 because there was big volume to the up side – someone was buying. Additionally it tested the low on 8/15 at 1.38 on 8.1MM shares then it tested the low again on lighter volume on 9/10 (yesterday) on 5.4MM shares. Today is also closed on the high from 2 days ago which is very bullish. My first target price is $1.66 and my second target is 1.99. Keep your stops tight.

