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To: Smart Investor who wrote (20337)	3/3/1999 6:53:00 PM
From: JayPC	Respond to of 27307

I asked you if the GCTY deal was reflected in YHOO's stock price.. you said "Off course it did. Do you remember that the stock jumped after the news?" The day the rumors began circulating as a done deal Jan 27 YHOO closed at 335 7/8 down $15.35 The day the deal was announced Jan 28 YHOO closed at 367.75 up $31.85 Jan 29 YHOO closed at 354.25 down $13.50 Feb 1 YHOO closed at 335.563 down $18.688 Feb 2 YHOO closed at 322.938 down $12.625 so i guess your argument is that a one day increase is a reflection of the value of GCTY in YHOOs share price? so it was worth only an extra $31.85, for just one day? after that the deal looked so insignificant that the selling showed it? My point is the fluctuations in YHOO's price reflect momentum, not the value added by GCTY. Thus if the deal does not go through, you will still see momentum plays, but GCTY is not reflected in YHOO's price Regards Jay