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To: KatayamaGorobei who wrote (24239)	10/8/1999 7:40:00 PM
From: Stephen M. DeMoss	Respond to of 27307

Okay, let me begin by congradulating both those long YHOO and YHOO itself. YHOO came out with very excellent earnings. And yes, it is a great company with a great future. And those of you with the courage to hold it when everyone talked of selling the news, you deserve a lot of credit. I also concede that it could continue to the upside for a while, and all of us short the stock will be forced to cover (or puts expire worthless). I watch companies like Broadvision, up literally 5 points a day for weeks on end, and realize the disregard for valuations can go on long after my puts expire. Having said all that, I believe we will see waning interest shortly. My reasons: 1). When everyone is bullish (as most now are), you run out of buyers (all their money is invested in it). 2). The news is out and there will be little to trade on for the next 8 weeks. 3). The general markets are close to a near term top. When the S&P hits 1350 (probably by Mon. or Tues.), we will see some selling come in technically. All boats will be affected. 4). YHOO, great company as it is, is very overvalued. We are in a 'greater fool' stretch. Who will be the last one holding the bag? Is the short term top 195? 200? 207? Some fool will make that last buy. You mentioned great support now at 187. The stock will cut through that like butter (as it did this morning) when it is time to correct. AOL's earnings will be out soon. After that, there will be a void of new input. The put call ratio for Oct. is 4-1 calls right now. The money managers will not want to pay out all those bucks. Right now they are getting people to buy calls for a few more days, then will let it retrace. The final reason why it may be coming down, is the seasonal corrections with Y2K. About Nov. 6, all the reports will be in, the interest rate fears will be peaking (fed about to meet), Y2K concerns getting larger, void of news, general (normal correction) will turn into an exaggerated correction. YHOO and other bloated stocks will give up big chunks of stock price, and as blogett said, 'will still be overvalued'. I congradulate you but challange you to keep a clear head. I have seen many scratch their heads and get angry at the stock shedding points 'for no reasons'. There are plenty of reasons, building each day. Good luck! Steve D.