Yahoo! Inc YHOO Daily - Trend Down, Rolled Over, Target $32-$30

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Yahoo! Inc YHOO             Daily - Trend Down, Rolled Over, Target $32-$30

Yahoo             has rolled over from overbought and is in a confirmed downtrend. $32-$30 target zone. Sell $34.30-$36.00. Stop $1.95 from entry. Be prepared to sell any strength into the gap from Monday's action from 36.94-34.80.

The trend is down using my "Range Movement" calculation which broke trend well before the stock broke its long term trendline back in April. Now, as all eyes focus on Alibaba and YHOO's plans for the cash it hopes to reap in the 8/8/2014 (hoped for) IPO of Alibaba, the stock is moving sideways as old longs cash out and new longs try to support the stock in hopes of profiting from the big cash haul from the Alibaba IPO .

Tim 34.35 last -0.09 10:14AM EST, 6/18/2014
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YHOO fell by $1 or more, 3%, on this setup. Happy to bank this profit here. 6/26/2014 12:05PM EST 33.48 last
timwest timwest
Tempted to put a re-short on YHOO here on this lift up to mid-35's as the Alibaba deal gets pushed back to September (maybe). YHOO is a source of cash for portfolio managers and likely will have difficulty lifting with the market for at least a quarter or two. There are so many other, more interesting growth plays. YHOO is cheap, but there is no catalyst to drive the share price higher. Sell puts to buy YHOO a year from now at about 10% under current prices to earn about a 10% return, if available. I think that could be a decent return given the low risk that you would be taking. July 24, 2014 9:57AM EST
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