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Will Mickey Mouse Scream Yahoo!?


The next generation of digital media is upon us.

"You can dream, create, design and build the most wonderful place in the world but it requires people to make the dream a reality."
--Walt Disney

The final stretch of summer is traditionally a time to fire up the grill, catch some rays and get ready for some football.

It's supposed to be a relaxing respite to reflect on what we've seen and where we're going as markets meander and lazy traders hit the beach.

Yeah, pull this leg and it plays jingle bells!

There's no rest for the weary in our ever-changing, multi-linear marketplace.

If we're not talking about the big picture blues, we're debating how much of the socioeconomic malaise is priced into the market.

If commodities are the fruits of your labor, there's plenty to chew on as we sift through the pits.

Do you want to fashion a tin foil hat, sit on a grassy knoll and talk conspiracy? Heck, we can do that too!

Regardless of the topic-and there's plenty to choose from these days-you can be sure there are two sides to every story.

Writing in this environment is a thankless process where you're only as good as your last trade and held to task for daring to share a view. Even when you're right, there will be people who got it wrong looking to point fingers and place blame.

But that, too, shouldn't come as a shocker.

With that in mind and a humble hat in hand, I'm taking a break from the big picture blues, commodity screws and counter-trend views to share some vibes that have been resonating in my crowded keppe.

They're not on many radars but therein lies the appeal for those of us who like to swim against the tide.

Will Mickey and Minnie Scream Yahoo?

We know all about the Yahoo (YHOO) 2008 reality show. Seriously, if someone took the time to cast Miley Cyrus as Jerry Yang and Vanessa Hudgens as Steve Ballmer, it would have been the number one box office hit of the year!

Microsoft (MSFT) extended a generous bid for the company at the beginning of the year, the stock ripped from $19 to $28, Yahoo pushed back, Microsoft held firm, smart money players such as Carl Icahn and Paulson & Company got involved and in the end, Yahoo won the battle even as investors lost the short-term profit war.

I was lucky enough to be long Yahoo call options when the unsolicited Microsoft bid was announced and sold my position into that first rally. I watched from the sidelines until the technical gap filled to the downside ($19) and again took a small upside position. That too was rewarded, albeit on a much smaller scale, before I again unwound my position.
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