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Politics : Idea Of The Day
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To: IQBAL LATIF who wrote (22854)1/22/1999 11:23:00 PM
From: IQBAL LATIF  Read Replies (1) of 50167
 
ON Yahoo--Kensey....

: As close to the 50 day EMA as we are likely to go .... (Long Recommendation)

YHOO at the 50-day EMA. Sure. That is not a problem.
The only other such time YHOO dipped below the 50-day EMA was in September. This came at the tail end of an extended base when the MACD lines actually dropped below the center-line.

So what's in store here?

Whenever a stock comes off a top as hard and as far and as fast as YHOO has the rule of thumb is that an 8 week base follows. This seems more than likely here.

However, I think this is a stock to own going foward. An article in the Wall Street Journal pointed out yesterday that more funds are starting to buy internet stocks. When a fund has on its radar screen that hits the 50-day EMA, they sit up on their haunches and buy it.

Buying some here in the mid 260's. Early trade saw the prices hit the 50-day EMA and bounce. I'm expecting this line to support the stock.

kensey


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