I was bottomfishing in Ebay and Yahoo and today Yahoo preannounced again. It is why I don’t make a living bottomfishing. You have to really know the story to catch a bottom and turn.
I have been talking to some smart folks today and I have no real clear picture. I am now down slightly on the position, but my stop is below $25 so we will see. I won’t look to add until it passes recent highs.
It is obvious that companies are not going to continue to bid up key word prices forever and that like any market, Yahoo is losing pricing power.
Surprised that Google was not down more today.