• Joel M
    YELP Pre-earnings announcement baked in bad news already. Short covering imminent. Heading back to top of trading range.
    11/1/12
    Reply (7)
    • Joel M: That being said, predicted post earnings rally will provide a good opportunity to enter fresh shorts.
      11/1/12
    • Joel M: Just MHO. Do your DD. But look at the last few months - trading range is pretty clear. Valuation, while ridiculous, is not new news.
      11/1/12
    • realornot: I see a big resistance at this current level.
      11/1/12
    • Joel M: Resistance? It's has rocketed well above (~20% above) this level at least twice in the last 3 months alone (because I shorted at 28 twice).
      11/1/12
    • Joel M: I mean, really? It traded above this level for almost the entire duration of September and October. That's not resistance.
      11/1/12
    • realornot: I cannot put a value on YELP. Won't even touch it.
      11/1/12
    • Joel M: 24 is not really a floor either - it traded below this level at least 3 seperate times since July.
      11/1/12