In leu of the massive rally in stocks yesterday, I find it impressive that the markets aren't down very much on the day as I would have thought investors would have used the advance to take profits and move some money back to the sidelines. With 30 minutes left to go in the trading day, stocks are mostly flat (although with this market you never know what could happen in the last hour!). As I cautioned yesterday, we are in uncertain times and the markets cannot be trusted. Despite my optimism on the U.S. economy and U.S. stocks in general, I do not believe we are quite out of the woods yet as there are still problems looming in Europe as well as in the Middle East as political tensions between Iran and Israel are growing.
As I mentioned yesterday, Yahoo's Board of Directors met to discuss the multiple buyout offers the company has received. From what I've heard, they are still evaluating which offer is in the best interest of its shareholders (me included) and I expect an announcement from the Board in the coming days. Because of all the news surrounding the pending buyout, the stock is up a nice 3.5%.
Have a great evening.
