Friday, February 1, 2008

Mr. Softy Is Hostile

February dawns with a rainstorm (needed much, thank you) and breathless news from Alexis Glick that MSFT is making a hostile bid for Yahoo.

"Yahoo!" says I.

The talking heads will be going non-stop on this at least until 8:30 ET when the January non-farm payroll numbers are released. They'll pause a minute, bury the dead and shoot the wounded, and then go back to MSFT+YHOO= ????. Yesterday looked like it had the potential for a short-term bottom and this might help-- but it's still too early to move from cash to equities again.