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Strategies & Market Trends : Trend Setters and Range Riders

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To: Ally who wrote (1204)	1/8/2001 11:10:38 AM
From: Ally	Read Replies (1) of 5732

PFE.. Stop loss kicked in at 41.75. Original expectation of a strong bounce from support after 2 heavy days of selling did not materialize. 5 min chart hit resistance when it tried to move above 43 1/4 on Friday, and today. The twice failed test at this ceiling, and the easy breakdown below $42 today would indicate there is still too much supply in the short term. Perhaps institutions are still re-allocating weighting away from defensive stocks. Also, news today about India (and probably other East Asia countries may follow suit) cloning viagra with the blessing of its government didn't help. May their pills be as hard as the real viagra :-)

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