Altaba Inc. (formerly Yahoo) Message Board

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Technology Stocks : Altaba Inc. (formerly Yahoo)

AABA 19.63

0.0%

Nov 6 4:00 PM EST

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To: damniseedemons who wrote (9181)	4/7/1998 11:08:00 PM
From: Bill Harmond	Read Replies (2) of 27307

I think our market is declining in anticipation of end of pre-April 15 IRA deposits and a decline in the Far East that isn't happening: quote.yahoo.com Our lists started breaking Thursday morning after the Sony Chairman/Clinton remarks about Japan, plus the big three-day decline up until then in the Nikkei. Since Thursday the Nikkei and every other principal market in the Far East has been very strong...in the face of overwhelmingly negative local sentiment. I think this decline we're having is simply a correction (of excessive sentiment...Market Vane sentiment meter was pegged on overly-bullish) that was triggered by Japan fears. Either that or the market knows that with the Far East possibly on the mend that the Fed can feel free to tighten some. My bet is the former, and that there are a lot of tech-stock put-buyers (principally in semiconductors and perhaps in the Web stocks) who are about to get shelled somewhere between now and April expiration....and that the rally is probably good for the rest of the second quarter. After all, it's only three months old. As far as Yahoo goes..a couple observations. Yahoo was not singled out by the market today during this decline...it was very broad, and Yahoo's decline (yesterday and today at least) caused no technical damage to Yahoo's pattern. Secondly, as can be seen by the dancing bears here and the focus Yahoo got on CNBC, sentiment turned negative in the group very quickly, usually not a sign of a top. Thirdly, and most importantly to me, volume off the lows this afternoon was exceedingly heavy. Time will tell, and earnings will certainly cause everyone pause for assessment, but from my purely technical standpoint today was just a rainy day on the ranch.

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