Market Gems:Stocks w/Strong Earnings and High Tech. Rank Message Board

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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank

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To: stevecor who wrote (92066)	4/6/2000 5:05:00 PM
From: Jenna	Read Replies (2) of 120523

YHOO I gave it a chance for 4 bars but I saw the open it wasn't the open of a 'happy stock' I gave it until the first area of 'shaking out of buyers' when there were no more buyers (doji in this case when there was hesitation) The ADX on the 10 minute chart was horrible it was about 15 or so. The only reason I didn't hold the short is that there might be some buying on this dip..at that point I'd be a short seller again. After working with earnings plays for the last few weeks, YHOO was almost a nobrainer compared with other companies with solid growth of more than $0.10 a share and well off their highs. I think it was because so many people 'played this' for a possible pre-earnings acceleration, the results became unpredictable. You had 'artificial' manipulation of the stock this morning but quickly YHOO got back to its original 'fall after earnings'. YHOO always sells off quite a bit after earnings and there is now more reason than ever for it to sell off now. I have no position now so I don't care and that is just an opinion. I might or might not sell short, its still too expensive to short more than 3 hundred or so. I put in a stop of 170 which it never came near again. There was not a chance I would buy I was just observing. It was either do nothing or sell short. YHOO is a fat cow that is overrated with a PE of 400 and earnings of 10 cents.. Look at earnings of PXXI. I was not impressed because of the lack of run up before earnings. I admit there was a time I went in for the calls but just when I was up two it disappeared. YHOO had dropped below its trading range already days ago and today it just started to drop further.

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