Earlier today, it was reported that Microsoft was among several other technology companies that were looking at buying Yahoo...(read my last post from yesterday). As I suggested, I do feel that Yahoo will be bought by another company, and probably for somewhere around $22-$24/share. That being said, with the stock up $1.50 (10.5%) to $16/share, I would recommend that if you bought the stock recently and you are up nicely on the trade, I would consider taking a portion of your stock and sell it for a profit...for example if you bought 1000 shares at $12, you made a quick $4 a share profit so I would maybe sell 200 shares and lock in your short term profit; if the stock sells off at all, you can always buy the shares you sold back because the big unknown still is when Yahoo will get bought (just like with Etrade).
In looking at other stocks I've bought recently, Sallie Mae (SLM) and KKR Financial (KFN) are both up nicely today as well. I'm not selling any of the stock I bought in these companies because they are both still way too undervalued and I believe both still have quite some room to run.
Overall, I'm still concerned with the lack of progress that has been made in Europe regarding the mess in Greece. Until we get some sort of clarity regarding that situation (nightmare), then you cannot get too excited about the markets even when we have an up day like today.
And btw, my favorite stock to own right now is still Etrade..at $8.47/share, the stock is too cheap not to own - especially in light of the fact that I believe the company will be acquired sometime soon.
