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Technology Stocks : Altaba Inc. (formerly Yahoo)
AABA 19.630.0%Nov 6 4:00 PM EST
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To: Mike McFarland who wrote (21203)4/8/1999 8:25:00 AM
From: Ron Kline  Read Replies (1) of 27307
 
"Please tell me it is a bad idea, I did not do well the last time I played with puts...talk some sense into me."

I had Yahoo in 1997 when it was supposedly too high and I saw people get creamed shorting this stock along with AMZN. I even sold my shares because the shorts made such a convincing argument. The problem with shorting them is when they go down (when and if) they are quick to bounce back up. Look at yahoo just a month ago was near $100 and it's at new highs now. If I were to short a stock I want it to go down and stay down. RDRT comes to mind because I watched it fall from close to $20 down to $5. It's still there yet the market has come back. Why, because earnings were not what was expected. Yahoo on the other hand beat the streets estimates. If I were you I would try to find those companies that have potential to miss estimates. I would also look at the chart, and see a breakdown of the moving average in an up market. Yahoo just broke out and is above all moving averages so this would be the worst time to short. Until it is extended from it's breakout downside is going to be tiny. Just my opinion but save your time and cash playing the put game with Yahoo, and if anything go long, you may be surprised that you will do much better.
Good Luck,
Ron
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