ajtj99's Market Pulse

[ajtj99]

I'm not sure about CMGI. The daily chart doesn't look real great:

http://stockcharts.com/def/servlet/SC.web?c=CMGI,uu[h,a]daclyyay[pb20!b50!b200!c13!c20!c50!i!d20,2!c....

It could hit $3.15 if it launched and took out the H&S formation that's formed (CORV had a similar looking chart this summer).

If you're looking at it and still want to go long, I think a long here with a stop a penney below the 20SMA at 1.67 isn't a bad set-up (20-SMA on a closing basis, that is).

If you look at the daily chart, you'll notice the good risk/reward using the 20SMA, as that's an inflection point for the stock.

Good luck!