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: fred woodall who wrote (10918)	5/27/1998 8:00:00 PM
From: Oeconomicus	Read Replies (3) of 27307

INDU/NDX performed considerably well this afternoon which would provide the motivation to cover. Fred, unless I wasn't paying close enough attention, the 'net stocks began to rally well before the Dow, S&P or Nasdaq got anywhere near their bottoms today. It probably began as a short covering rally, then some momo money may have jumped on the rally (look at what was up today - all momo/short favorites stocks). The last bit of YHOO's rally may have been short covering motivated by strength elsewhere, but not the beginning of it. The beginning was profit taking (or weak nerves). BTW, the late surge in the Dow and S&P appeared to be buy programs and they likely continued right up to the close as the June S&P was still at a decent premium to fair value at the close. I haven't seen the breadth on Nasdaq, but I'd bet it was about as bad as on NYSE which ended at 22:9 in favor of decliners. Buy programs in a select few large caps and short covering in momo stocks. Hardly a convincing rally IMO. BWDIK? Bob

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