tK2 - 80 is now resistance, but not a big deal seems. Of course if you go by what ML says, we are only 6 1/2 points away from the 12 month target, and two more days like today, and we should reach it - or alternatively, if we go up by 1/2 point a month, we'll hit it in 12 months. This is how absurd these analysts are. Just love 'em.
Unfortunately it seems to me that MSFT is going to be a bit range-bound, though hopefully in the 80s not the 70 over the next couple of weeks.
As to PFE - don't worry, drug stocks almost never stage moves like PFE did today. Ordinarily I invest in drug stocks (PFE, BMY, JNJ), but I don't trade them. The only reason I decided to trade PFE, is because as I wrote a few days ago, PFE under 105 is too tempting, and I felt it had the potential to rally explosively, which it did, and so was suitable for a trade. Similar situation with QCOM, which I felt was way oversold in the 80's which is why I felt it was a buy.
Anyway, I don't see much sense it trading drug stocks under ordinary circumstances.
As for MSFT - gotta love it - long term its as sure a winner as anything can be in the stock market (or at least over the next 2-3 years, IMO).
Morgan |
