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Still on The Brink

Great rally today! Right. But technically, it doesn't mean much. Of three major indices, Nasdaq is the only one holding above 13-day moving average. Both Dow and S&P dipped under 13-day MA on Friday and confirmed that dip yesterday. Today they closed above it, but we need confirmation. The only consolation is that Nasdaq is the leading index since gory days of 2008.
No trades yesterday and today. I don't feel this market. Hope the fog will clear by the end of the week. After all, September is usually divided sharply by Labor Day.

Couple words about Yahoo! (YHOO) and Carol Bartz. Yahoo! is a tech company. Not only that, it's a new tech company. In the old tech world, you had something common between tech and other companies: tech companies also produced something, had some defined structure. In new tech, there is no such luxury. Every day is a new day (yes, I remember great Diana Ross), and new tech companies should be flexible, fast, and turning on a dime twice a day, if required. Yahoo! lost that long time ago and Carol Bartz never even new about such things. You can try to cut costs, reorganize structure, streamline management, it doesn't mean anything if you don't feel the business you are in. Many observers claim that Yahoo! is a lost case since 2004 if not earlier, killed by Google (NASDAQ:GOOG) and Facebook. Wrong! Company has great display advertising experience, Yahoo! Finance is still the best financial site out there, Yahoo! Sport is great. But you need a real Yahoo to develop on these things, not some professional CEO.

Disclosure: I have a long position in GOOG and no positions in YHOO.