In the great tradition of wavers who make forecasts which prove false, I'd like to revise my Idiot Wave Count on CMGI. One revered Idiotician wrote in to explain that the second push has to be longer than the first push, so I've revised the count with that in mind, and now I think I've got it right. The Idiotician also explained that if I still don't have it right, I can say that I failed to see a key "sub-minuette," and that should get me off the hook.

Remember to key an entry off the opening range, don't just go in there willy-nilly. There was no break below the opening range on Friday, and that fact alone should have kept one from getting short this screamer. But enough of the caveats... let's look forward to the stock's eventual return to its January 2000 high of $163.50. ;-)

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