I foresaw this happening, although its my personal belief yahoo is being greedy. The ceo knows the company is in a bad position and is losing tractiong, he will give in once the cockyness subsides. I mean even if they take 10 more billion onto the offer, which microsoft could easily do, it will only value the company 27% more, thats a killing.

Vimpel communications a Russion telcom company equivilant to an AT&T before the break-up!
VIP has competed with Mobile Tele (MBT) as the smaller player for the past decade or so - but this year became the bigger of the two.

Bullish trend testing support so far so good, look for it to rise to the top of the channel, safe zone.
Google has exibited very strong technical trading since IPO, this is the first time she has broken through the trend line shown and has continued to punch through. very bearish signal.
Cisco is a value play here at these levels, technically it is oversold and it has 25B$ cash and it has 17% forward guidence thats CONSERVATIVE. this will rise into its upper trend channel i have drawn for you. if support does not hold (unlikely) we will drop to next support.
Apple's chart speaks for it self, it has held its very bullish and steap uptrend, its deviation from the trend in APRIL of 07 marks the last time this bull has been taimed. It advise to go short here, we broke trend hard. we could fall to 90 if the market continues to decline to around 11,500 range. IF this does happen i believe its healthy and the capulation feels nice.

Market still exibiting healthy trading, consolidations and shaking out of weak hands. we are still not below key support yet, so that is positive.

If one were to play this the correct way, you would buy up calls in yhoo and puts in msft/buy yhoo sell msft. Most of the time when a takeover bid is announced the target company will rise in price and the company doing the buying will decrease. Intrinsic value of msft is decreased in the short because its value is offset by the purchase price of yahoo. happy trading, people became wealthy today.

YHOO weekly

If anyone of you follow me on the boards know i have been talking about a msft yhoo merger for about 2 weeks know. Today my soothsaying has been confirmed.

The unsolicited takeover offer of $44.6 billion values yhoo's shares at 31$. Msft finally has the upper hand in the battle for online search and ad revenue. GOOG is probably pretty annoyed at the offer as msft beat them to the punch when they saw red on the streets after yhoo's earnings.