Hold Your Excitement on Yahoo!

Not so fast, Yahoo! bulls.

There is a sense that the worst has passed. There is a sense that the page has been turned on an ugly and depressing chapter in the history of the Internet giant.

There may even be a sense of relief over at Google , where the geeks in charge are idealistic enough to trade in a certain monopoly on search in exchange for a sharp competitor who can prod them into developing even better technology.

It would be easy to believe that Yahoo! has turned a corner and that it's all recovery and rallies from here on out. Even after Thursday's tumbling in tech stocks, Yahoo! shares were still about 4% higher than where they closed before Tuesday's fourth-quarter earnings report. ...