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.

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Written by chucklesamadeus

July 29, 2009 at 9:47 am

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