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The attached chart shows that the first target of 68 was meet. It had a
high of 67 7/8. The next target is 78. As far as my trading on this
stock I haven't been too pleased. Having the short at 52 is like a tooth
ache. It complicates the decision process. When I have one strategy
figured out things change and then I have to figure out another
strategy. I also am finding out my decision process has to be better and
different because of the short at $52. But I have pretty well run
through the gamut, so I don't have too many more mistakes to make.
However there is one looming problem ahead of me. Because of the price
of YHOO I am at a point where the number of shares I can buy to maintain
my strategy is becoming fewer and fewer. So this also complicates
things. I will say in the long run the tooth ache is good because it
makes me work hard at this. I have learned more in the last month (some
from individuals on this list) than I would of other wise. This is also
very early to say but. There is a good chance that I am beginning to see
some divergence between price and stochastic. I know this can last for
months but is is something that helps in the decision process.
The $$ loss gap between the long and short has widened to about $500 on
Friday. Friday hurt a little. I could of closed it to under $225 on
Friday, but waited too long to cover my short. Net net on the trading
side I have made money, about $200 after commission. Just not enough to
close the gap yet. I will sit down at the end of this week to evaluate
my trades.
Where is YHOO going over the next few days? I am not sure. Since it
closed at 66 1/8, my sneaking suspicion is that it will try to go after
a new high on Monday. I can't really tell from the current price pattern
where it is going. A few days will begin to play out a better picture.
Several larger blocks 10,000 or 100,000 (can't remember which) bought in
at 65 on Friday. Currently I am flat until I see what is going on. I had
and still believe it will test 63 again at some point in the next few
weeks. But if the sellers are all shaken out then there is probable no
need to. But like I've been told, YHOO will tell me eventually.
Harley
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