kaliman,
in a few weeks i believe you're gonna be kicking yourself for selling.
i think yhoo execs did not manage expectations well, but other then that, i'm not disappointed.....i got in in the mid - high 20s and still green....barely.
125 million plus volume today on yhoo where the closing price is not much different from the opening price means to me that there was a lot of buying going on today that absorbed the selling, otherwise closing price would be more then a few pennies lower then the open. stops were triggered on the open, but then it went never went below 28 again after the opening.
for sure there was short covering, but it wasn't all short covering.
yes, some will try to short again, but the low hanging fruit on the short tree just got picked today, going short from this point forward will be more difficult to squeeze a few pennies from....probably can be done, but again, the low hanging short fruit has been picked. best for shorts to move on and patient longs to hold, imho.
yhoo is sitting on major support in the 28-29 area. i bet this thing never closes below 28 unless there is a marketwide meltdown.
did you see any downgrades today from top tier houses????
no, the IBs learned their lesson...last fall they downgraded yhoo when it was in the mid 20s, only to see yhoo go up from the point where they issuesd their downgrades. no downgrades this time because they know there is support at this price level.
important to rember that yhoo has said from the beginning to not expect any revenue increases from panama until the second half of 2007. the top tier ibs know this and are not issuing downgrades....unfortunately bulls got anxious in Q1 and bid the thing up prematurely., and a 1 cent miss on a stock that has been prematurely bid up is going to get a haircut.
