Not much in the way of annotating needed on this YHOO chart. The damage has been done and the stock is now testing its 50 day moving average once again. The pennant formation before the break was classic.The problem for YHOO, too many eggs in the AT&T basket. Click here for details.
3 comments:
Jim, you think the 50 DMA is going to hold? I may check this out as a possible play, would probably get pretty decent odds in here! Nice post man.
Blain, will take a look later.. running out for a midday lunch.
MACD in awful shape this time around vs last visit to 50dma... much will depend on broader market bounce, i think.
i am not happy with the markets generally as I was expecting a big big drop today yet we are flat, but i am happy to see YHOO and RIMM finally getting "it"! I have been loading up on puts for 3 days and looks like I will be taking them off early next week:) g/l JimK!
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