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To: Dr. David Gleitman who wrote (20043)	2/16/1999 3:31:00 PM
From: Axxel	Respond to of 27307

from the newsletter today: "YAHOO [YHOO-151] as much as 55 points on the downside. Puts installed." What we are getting is a series of false bull runs in the morning that go nowhere. Also a number of OTC market makers get this newsletter. Sometimes that helps and sometimes it creates a chilling effect like today. There is nothing worse than a rally that fails. Protect your position or eliminate it. Here is the chart on YHOO. Axxel FYI- This stock comment may is an excerpt from the Axxel Knutson's VTAR™ Newsletter [Volume Trade Analysis Research ™]. There are important disclaimers and additional information that investors may want to avail themselves of prior to taking any action based upon this comment. The writer will not, usually, update you on changes in opinion. The Axxel Knutson's VTAR™ Newsletter [Volume Trade Analysis Research ™] is published [free] 3/4 times a week and is given to various web sites and to individuals who request it. There are no charges and it is not supported by advertising of any kind. Fees are not accepted for inclusion into the newsletter from any entity including the websites. In the very great majority of the cases, the writer does not invest in the same stocks that are included in the newsletter. If you would like the rest of the newsletter, so that you may obtain additional information and possible updates, email me at stockopn@webspan.net; tell me your name [I want to know to whom I'm speaking-you know who I am], email address, the city that you live near and how you heard about it. If you ever want off the list, just say so. My lawyer, who has no personality whatever and is considered by nearly everyone a real jerk, makes me say all this stuff.

To: Dr. David Gleitman who wrote (20043)	2/16/1999 3:47:00 PM
From: Howard Hoffman	Read Replies (1) \| Respond to of 27307

<<what's going on with YHOO today?>> This may not be what you want to hear, but . . . It is very obvious from looking at the entire e-stock sector that volume has been diminishing dramatically. On that there can be no doubt. I would like to hear some different opinions on the drying up of volume. I suppose it could be taken as a positive sign that this sector, with YHOO as one of the leaders (2nd largest market cap after AOL), is going through a correction to get back onto the trend from 4th Q 1998. That would be the positive scenario. It means that YHOO at 200 was too high a price for now, but it is still achievable in (late) 1999. Another interpretation is that this sector is in deep trouble. I have been tracking ATHM, AOL, AMZN, EBAY, EGRP, LCOS, XCIT, YHOO, and some smaller e-stocks. Most of them seem to be making Head & Shoulders patterns. AMZN appears to have already completed the pattern, which is usually a sign of a major reversal. Major reversal would mean that the long uptrend is over for now. The recent mini-rally on weak volume fits rights into head & shoulders pattern. YHOO seems to have broken out of a weak triangle, on the downside, which is not nearly as bearish as the H&S. The downside potential is great for the entire sector. Certainly, there are many technical analysts in the industry who also see these chart patterns. It is typical for volume to disappear in the late stages of development of H&S patterns. H&S is consistent with "those in the know", including major insiders, selling off large amounts of stock. In particular, selling on the rallies. None of this says that these companies are not good companies or that they may not eventually turn out to be good investments. However, the easy money is over in this sector. The "double a month" club is history. A lot of people seem to talk "long-term", but they really invest with very short-term horizons. I think that when more figure out that the quick and easy money is no longer there, that increasing numbers will sell.