CEO Marissa Mayer may have failed to improve Yahoo’s business model in any significant way, but that has ceased to matter for the moment with Yahoo’s stake in Alibaba going bonkers. How bonkers? YHOO has risen by a third since April and is closing on the 47.47 midpoint resistance shown. If it is easily brushed aside, traders will have a bull play all the way to 59.41. _______ UPDATE (Sep 22, 8:25 p.m.): The stock has gotten sacked after going no higher than 44.01. The target remains valid, but as a practical matter, and for the foreseeable future, trades should be initiated from the short side.
