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Strategies & Market Trends : Guidance and Visibility -- Ignore unavailable to you. Want to Upgrade?

To: AugustWest who wrote (111179)	3/17/2004 8:26:24 AM
From: AugustWest	Read Replies (1) \| Respond to of 208838

>>Smith Barney upgrades Yahoo! (Nasdaq: YHOO) from Hold to Buy, >>> Just curious if anyone here trades and/or has an opinion on YHOO chart they want to share. Here's my take. I've been shorting it off and on(with day trades in the middle) for a few weeks now(or from it's drop from 47s) And it appeared to me that the selling picked up in volume and speed whe it dropped below 45. In fact it became down right weak. Unable to break through weak resistance, likewise unable to hold any support. I do have MACD trying to cross over here on the daily with the RSI right around 40 and trying to turn up as well. But the weekly still looks a bit weak and as if it wants to come down to 40 even and at least make a test of it there. Volume too is going to be critical. I noticed yesterdaywhile a lot of other stocks were up on lower volume, YHOO volume was right at its average. (note: 250K shares in premarket this morning at time of posting- @ $44.2 +1.63) So, with this apparent gap up this morning I will be looking to short as it approaches $45 and cover if it closes above 45 1/4- 45 1/2 However, I expect it will try to make the 44 area support now So will not get aggressive shorting it near 44 until(or if*) it becomes resistance and trades on the lower side of that number