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Yep, today was not a good day for YHOO. You have to keep in mind though, that YHOO's drop today was in the context of a broad market selloff, which accentuated the weakness. Ultimately, YHOO's advance will be more sustainable, if it makes some good pullbacks on the way back up. That being said, if it would continue to follow through and pull back sharply, then all bets are off. So, I'll be watching it for strength, a reversal back up, intraday tomorrow. It's certainly possible that it could head back down and even test the lows around $120, before making a real recovery. Given what's been occuring recently, and the earnings seasonality, etc. I'd say the odds are better that is will continue to recover, or at least consolidate for a while. Regards, -Steve |
