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To: Mr. Tomatohead who wrote (22140)6/23/1999 4:14:00 PM
From: RDR  Read Replies (1) | Respond to of 27307
 
Following is from TSC, hopefully we should see a nice pop and recovery tomorrow...

People keep whipping around this NDX like it's a kite. Earlier today big hedge funds came in and bought puts all over it and its SPX brethren. Then they spread word that a 50-basis-point rise was coming.

But they didn't get a chance to blow out the puts or cover their shorts. In fact, they got slammed upside the head when Ron Insana boldly blew the cover off their schemes. Directly and with precision.

Now you can expect that a squeeze will develop, as all of those puts were bought on top of a shaky selloff based on nothing yesterday. The stuff that should rally best is the stuff that got killed the hardest yesterday in that last hour, as I fully expect that the market just undoes yesterday's selloff.

Hats off to Insana putting an end to a ruse we all know about: the get-short and get-loud game. Well done

Regards,



To: Mr. Tomatohead who wrote (22140)6/23/1999 6:56:00 PM
From: -  Read Replies (1) | Respond to of 27307
 
Hey Tomatoehead, Yes YHOO acted like it was going to break the support in the 148-150 area mid-day, did a fake-out move down towards $145 then came screaming back with a vengance into the mid-150's. All of this is due to massive manipulation of the market by the derivatives people, per today's other (recent) posts on this thread and as called accurately by Cramer/Ron Insana.

I was watching YHOO intraday and would have bought it on the comeback, but decided to go out for a run around 11AM. Missed about 8 pts in this rally! As they used to say on SNL, "I hate it when that happens".

Today was bullish for the nets.

- Steve



To: Mr. Tomatohead who wrote (22140)6/24/1999 12:15:00 PM
From: -  Read Replies (2) | Respond to of 27307
 
YHOO Intraday Update - Thu June 24

YHOO opened in the mid-150's but along with the general market, has been trading weakly for most of the session. Currently (Noon eastern) YHOO is trading off almost 7 points, and struggling to avoid larger losses at $149. It is critical to hold support in the $148-150 area (at the close), to avoid further followthrough on the downside.

This is surprising to see just 8 days shy of earnings... but it would we wise to consider the scenario that YHOO may not make it's traditional "run", at least in such grand of style as usual, this quarter.

Other internet stocks are getting hammered pretty good today as well.

-PATrader