Replies to post #41188 on Zeev's Turnips Patch-No Politics (ZEEV)

[plexus]

>>>YHOO is up over 50% in the last month ($9ish to $15ish) -- almost straight up. Respectfully, just where is the coil in that move? Seems more likely to retrace some of that up move. Longer term looks like strong support at $9ish and some serious resistance at $20ish.>>>

YHOO is putting in a bullish flag pattern here and note the declining volume in the handle. This is normally a continuation pattern and with the markets in breakout mode (note the Naz today) its a likely breakout to the upside candidate here. Also like the fact that the 13 and 50 day MA's are curling up beneath the price action here...strictly a technical call. I'm pretty sure this has another leg up along with the markets here before eventually rolling over. Im trading this long not LTBH....imo we are in a major Nikkei like compression rally that shouldn't be shorted until objective signs of topping can be seen. I wouldn't underestimate this MSFT news and breakout.