Update on the Yahoo TRADE

Two days ago I recommended a trade on Yahoo. I said that I would put in a limit order to buy at $30 and if the order got filled, I would immediately place a limit order to sell at or above $33. I put in the buy order yesterday morning and the stock opened at $29.80. This is where I bought my shares, so the basis for this trade is now $29.80. As promised, I immediately put in a limit order to sell at or above $33. However, today rumors surfaced that Yahoo was in talks with News Corp about an alliance between the two companies which would thwart Microsoft's bid. I have now removed my limit order to sell at or above $33 because I think this will ultimately result in a higher bid from Microsoft. Hopefully Microsoft will raise their bid to at least $35 per share. I would be happy with that price and would sell, bit I'm sitting tight until we get more news on what Microsoft is thinking.