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Strategies & Market Trends : Trading the SPOOs with Patrick Slevin!
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To: John Pitera who wrote (1749)12/7/1999 10:22:00 PM
From: Patrick Slevin  Read Replies (2) of 7434
 
From Post #1751,

<if I were so inclined I would check the sector's relative strength against the Broad Averages but I don't own any Drug Stocks.>

Check that. Was going through some statements, by chance I forgot I've owned AHP and PG for about 20 years. I did not know AHP was a drug stock, I thought of it as a consumer products stock. Funny, because PG is a Consumer Products Stock (according to DWA) yet AHP is not. I dunno, I was just contrasting and comparing when I realized I said I don't own Drugs yet I'm a user.....according to DWA. I need a Drug Counselor, evidently.

But, DWA seems to think the sector is Bullish. This intriqued me so I ran up a chart dividing the DRG.X by the SPX.X and the Drug Sector is dropping like a stone by comparison. Seems it reached it's most recent pinnacle on October 19. The most recent Nadir was August 11 and the recent relationship is not far off that Low.

Judging by the fact that the S&P (Futures, anyway) saw it's recent Low on October 18 I think that helps to support the hypothesis that Drugs are Defensive. So if your bias is Bullish at any point, you would...

...say no to Drugs, I guess. I was wondering why Nancy Reagan always took such an interest.
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