No,
I am not wrong.
According to the instinet there were trades going through at 281.
>>If the selling at about 3 PM is any indication, we will see more intense selling the next couple of days and the week into the new year. <<
or.... (and more likely)
If the strong buying during the last 20 minutes is any indication, we will see further, intense buying leading up to the earnings announcement.
All of the easy money HAS NOT been made until YHOO has peaked following the earnings and split announcements. After that, I would tend to agree that a modest decline is likely.
But certainly not until.
Perhaps one of the most bullish signs yet, lies in the depth of the intraday pullbacks.
When YHOO had its initial previous big run up to 253 it pulled back (intraday) to 233, a correction of ~8%. Today, following the run to 286 it pulled back to ~267, a correction of only 6.6%.
People are only too eager to get into YHOO on the slightest of dips. They are losing the patience to wait for bigger pullbacks.
Why? Why be in such a hurry to get into a stock that is "so overvalued"?
Easy.
They will report blow out earnings, and they will report a split.
After that, it's anybody's guess.
In all honesty, I'll be buying again on a post announcement pullback, because everyone will then want to ride the wave leading to the actual split day (just as with AMZN)
All this negative talk about the nature of YHOO's earnings is silly!
If there were any substance to the so-called "shady nature" of the earnings, the stock would have collapsed already. |
