Smoking Securities

Half Baked High Finance

Twitter Ticker ($YHOO)

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YHOO090729Yahoo! is buzzing on StockTwits as the Internet information provider announces a deal with Microsoft. The Street seems unimpressed with the “news” as YHOO sells off 11%, breaching the primary uptrend with a secondary downtrend (new O column)

Although it remains above a rising 20sma, it no longer enjoys the advantage of trading beyond an upper Bollinger, implying little buying interest. A break below 14.08 could seal YHOO’s fate as it would indicate a new primary downtrend.

YHOO has to break 18.36 to prove there is upward momentum, but there is no telling when such a move will happen, so I remain neutral on this stock. The broad market continues to digest recent gains, so stay patient, don’t over trade, and take the kids to the beach.


Written by chucklesamadeus

July 29, 2009 at 9:47 am

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