Piffer OT - And Other Assorted Nuts Message Board

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Strategies & Market Trends : Piffer OT - And Other Assorted Nuts

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To: Jorj X Mckie who wrote (46892)	7/26/2000 8:25:48 PM
From: Don Pueblo	Read Replies (1) of 63513

tough read on that. I would look for some support at 88 5/8. It looks to me like the stock could pull back to 56 (worst case) but 100 is always a "psychological" factor. Any break below 100 will trigger selling, that's for sure. Short term, it could easily run back up above 118, but my educated guess would be that the stock will pull back below 90. If it can move back up from there and hold above that trendline that is formed (7/11, 7/18, 7/24), it could recover to 121 easily, but the chart does not look very healthy to me. It looks like it will go down before it will recover much. Fundamentally, the problem with pharmaceutical companies (in my view) is that they are at the mercy of the FDA. From a "pure TA" point of view, I would rather be short this stock than long, but I never short pharmaceuticals, due to the fact that they could get FDA approval for something later tonight.

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