If I were you, I would be ready at 8 am to margin a short of 5000 shares and also remove your stop loss. That way, if the stock falls to the 21-22 price it most likely will open up around, you will still make some money after clearing both. Or, clear the stop loss and just let the stock ride as M$FT has made it clear they will take it to the shareholders if this deal falls through, that way you have an upside potential. So, eitherway! Clear your stop loss (if your brokerage will allow you to) as soon as you can.
Good luck to you!
I think it was a wise decision you made to cancel the stop loss order. YHOO will open considerably less than 28 tomorrow. Remember, you don't lose anything until you sell. Maybe a deal will be worked out yet with MSFT and the stock will go up again to a level where you can sell. Consider putting in a sell order with a limit of $28 - but I doubt you'll see it tomorrow. Pray.
call your broker 1st thing in the morn,see what they can do,otherwise your screwed.I had CROX all the way up to 78 and I always kept a stop-loss to lock in profits....on the day of ER Premarket CROX was hit hard and past my stop and you get in line with a market order...who knows maybe 22 or so...someone earler said cancel the order and make YHOO a long term play...thats your best advice otherwise you take a big hit...good luck.