Just like Robert Nesta Marley once said, "He who fight and run away lives to fight another day." I gave up on the Google trade. I still think the stock will recover from the selloff, but today's Microsoft-Yahoo news is too powerful. The kicker came at about 15 minutes before the close when CNBC quoted Mark Cuban saying (paraphrasing) that this move by MSFT is brilliant and creates a dominant player in everything online except search. For Google, Cuban adds, it leaves only search as a dominant niche. I got out at 521, took my loss and moved on. GOOG is now at 516.
I moved into YHOO at 28.39 — a buck higher than it was early in the day. I saw it at 27.40 or so and thought it was too simple and easy. Something had to be wrong with a stock hovering there after receiving an offer of 31.
Since overthinking that non-trade, I'm now in a stock I normally dislike. I use Yahoo Finance and Yahoo Fantasy Sports, like tens of millions of people, but that has nothing to do with the performance of the stock. (No different from Starbucks. I go there often, but don't want the stock.)
With Terry Semel's resignation yesterday, I think Jerry Yang will give this deal his blessing and spare Yahoo the torturous road to ruin.
Yang has his beeellions. I'll be content to make a few bones when YHOO hits 30.50.
> > > Microsoft's letter to the Yahoo board
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