YHOO is a buy AH { AH YHOO drops 5% }

H

hajimow

YHOO closed at 16.01 and dropped to 15.17 AH after YHOO filed for 8-K and plans to review its strategy for its cash. Now it is trading at 15.40. As a person who trades YHOO a lot, I don't see this drop justified and consider it as a buying oppotunity. Here is the link for YHOO 8-k report.

http://biz.yahoo.com/e/120809/yhoo8-k.html
 
Selling pressure stopped. Last trade is 15.45. AH trade volume is 1.6M. Price action more confirms that it should be a buy now.

Note: My posts are for discussions only. Please DOYDD before any trade.

Time : 6:17 ET
 
hope you lightened up over $16 and/or were covered/positioned for the downside. from your past posts, i would have thought a good percentage of the daily option volume for YHOO was you alone.

thanks for the heads up on the AH action.
 
do you think yhoo will drop further below 15.45 tomorrow? im shorting it at 16.30 and had an original cover at 15.70 but obviously i need to make some adjustments
 
Quote from pikerforlife:

hope you lightened up over $16 and/or were covered/positioned for the downside. from your past posts, i would have thought a good percentage of the daily option volume for YHOO was you alone.

thanks for the heads up on the AH action.
More...

If you have read my posts, you saw that I called YHOO a pure sell at 16.30 (not sure about the exact price) and my re-entry was 15.90 area but today's AH also came as a surprise to me. I have also some options that will be assigned and some options will expire worthless. Since Dan Loeb is in BODs, investors will stay calm and I won't be surprised if YHOO closes above $16 tomorrow. AH volume was about 1.8M and the trades almost dried up in the two hours (6PM to 8PM). Tomorrow price action will be interesting. I buy when people are selling and sell when people are buying. I was selling GRPN a couple of days ago and today I covered. Now I am selling SPRINT while it is going up and investors are buying.
 
Another note: today's total volume including about 1.8M AH shares was about 8.5M which is almost 50% of a normal day.
 
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