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Yahoo (YHOO) Best pick?
- Thread starter Johan
- Start date
Quote from Johan:
I have been following Yahoo for the last week. I really believe this can start breaking out. I am already holding 500 shares, I will continue to add on any pullback.
What are your guys thoughts on this.
It is in a tight triangle formation. It is going to break out hard either to upside or downside.
Based on the resent market behavior, my bias would be to downside. Be careful and use protective stop for the existing position.
Thats why people loose money... like you (most likely). When you say a pattern like that would break out or break down. Thats true. But a break down on a company like yahoo would make the odds even less for a break down. With the market behavior, it has been bullish, We have been consolidating at the highs. We can see new 52 weeks high on Monday.
Quote from Johan:
Thats why people loose money... like you (most likely). When you say a pattern like that would break out or break down. Thats true. But a break down on a company like yahoo would make the odds even less for a break down. With the market behavior, it has been bullish, We have been consolidating at the highs. We can see new 52 weeks high on Monday.
My Rule of trading #33 => never fall in love with an instrument you trading. As I said the chances are it will go down. Let's talk again in a week or two when the market will show hand. As to loosing money - me and you are both potential loosers. The difference is - i am not afraid of saying and acting like that.
Quote from Johan:
Thats why people loose money... like you (most likely). When you say a pattern like that would break out or break down. Thats true. But a break down on a company like yahoo would make the odds even less for a break down. With the market behavior, it has been bullish, We have been consolidating at the highs. We can see new 52 weeks high on Monday.
Wow, why the hell are you even here?
Google will put them out of business.
Swing trade of course, target of 17.50, but i will not be greedy, i have a nice profit. alexandert, was saying how this pattern was going to break down to the downside. This was a perfect setup to move higher, the 20 ema moving up causing the stock to squeeze between the 20 and trend line and then finally popped up.
As for the market he was pretty much calling a top, Which was false, we were consolidating, and then finally made new highs, perfect timing with yahoo and the market.
So everything I told him, I was right, he was wrong.
Thank you
As for the market he was pretty much calling a top, Which was false, we were consolidating, and then finally made new highs, perfect timing with yahoo and the market.
So everything I told him, I was right, he was wrong.
Thank you
Quote from Johan:
Swing trade of course, target of 17.50, but i will not be greedy, i have a nice profit. alexandert, was saying how this pattern was going to break down to the downside. This was a perfect setup to move higher, the 20 ema moving up causing the stock to squeeze between the 20 and trend line and then finally popped up.
As for the market he was pretty much calling a top, Which was false, we were consolidating, and then finally made new highs, perfect timing with yahoo and the market.
So everything I told him, I was right, he was wrong.
Thank you
Yeah its a good way to play the range with the 20SMA.