Down over 2pts. That's pretty big for AH right? Today was heavy vol w/ no progress. Glad I'm not long. Timber?
So earnings are up, Yahoo is making money and they raise guidance and their stock takes a hit? Wall Street overly optimistic about YHOO?
This uptrend has been marked with about 8 countertrend declines since the beginning of this year. Those declines have ranged from 2.5 to 3.5 points. If we hold this "symmetry" of corrective declines and do not go below this "symmetry zone"...that would be healthy (imho). However, if we go below this "symmetry price zone" then this uptrend is definitely firing off warning signals that its getting top heavy. Check out attached chart to see what I'm talking about. -D
Sure seems to be a "buy the rummor, sell the news sort of thing". Stock starts running up, and you know somebody out there knows something. Big fat earnings article plastered over CNBC, time to hit that sell button!
And c'mon, PE of 146. Doesn't that mean if earnings stay the same (zero earnings growth), Yahoo would be worth what it is now in 146 years (or am I wrong about that)? I trade of technicals, not fundamentals anyway. Another way of looking at it is w/ 15% annual growth in earnings (never gonna happen, but indulge me), Yahoo will be sitting at a PE of 33 (overvalued still, but that's par for today's overpriced S&P) in 9 years right? Now, 9 years is a long time to go w/o a recession, so it'll probably be closer to 12 years. What do people expect? Earnings groth of %200/year for several years?