Net stocks have declined for past 4 Q's after Yhoo reports earnings
The non-dairy creamer is not-popular here but is occassionally astute
Yahoo-hah!
By James J. Cramer
4/15/99 2:47 PM ET
This whole Net selloff started with Yahoo! (YHOO:Nasdaq), so I use Yahoo! to gauge when the selloff might conclude.
The Net is beginning to exhibit noticeable patterns, by the way, and one of them is that it declines after Yahoo! reports its quarter. Looks like that pattern, now good for four quarters, proved a winner.
Sometimes with selling it's a velocity issue. The velocity of the decline of Yahoo! has, well, declined (you know I hate putting that darn explanation point after Yahoo! because my spellcheck always capitalizes the next darned word!), which can be considered a positive. That's a prerequisite to a rally. I would love to be more bullish, but the bankers have created so many .coms now-including a bunch that Yahoo! is buying-that I can't be sure. Does act better, though.
And, amazingly, some things are still working. Stinktomi's (INKT:Nasdaq) CEO will be on CNBC's "Squawk" tomorrow, it was just announced, and the stock immediately jumped 4 points.
Thin gruel, my wife would say. But sometimes that's all you get to eat.
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