- set off on an aggressive upside run in the immediate wake of its quarterly report, spiking from 16.23 to an after-hours high of 17. Sellers answered in kind off the top, dropping YHOO down to still positive levels between 16.40 and 16.71, a range where the issue stayed through much of its late first-half and second-half evening action. A pre-bell open Wednesday may have potential near 16.40 to 16.60. We noted earlier today that longs should be wary of an evening upside move in YHOO shares. YHOO has recorded an earnings-driven evening gain in 15 of the 27 quarters we've tracked. It has reversed or narrowed that gain in next-day regular session nine times, about 60% of the time. The reversal trend in place, combined with some decent sell pressure that locked into the shares at 16.70 and above, may open the door for shorts to eye this area as a potential ceiling.
- A pre-market open Wednesday may have potential near 20.95 to 20.80. We noted earlier today INTC is a stock for longs to be wary of in the off-hours, and an issue for shorts to line up if it should post an earnings-driven after-hours upside move. INTC has advanced in the after-hours in 18 of the last 28 quarters we've tracked. However, it saw that advance reverse or narrow in next day trade in 16 of those quarters, or 89% of the time. The strong reversal trend in place in INTC shares may offer opportunities for shorts tomorrow, but as always we would still be cautious and watch the early trade in the shares, particularly if Wall Street starts piling in with positive opinions on tonight's results, a factor that could push the stock north and break the prevailing reversal pattern. More risk tolerant shorts may want to eye the 21.20 to 21 area Wednesday, a range that stood as a consistent ceiling level tonight and where there may be room to catch some downside back into the higher 20s.