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Strategies & Market Trends : Dividend Investing

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To: Smooth Drive who wrote (129)	10/28/2001 9:41:04 AM
From: Bwe	Read Replies (2) of 387

Good morning, Eric. It's a beautiful fall day in NYC. It's a bit nippy, but perfect for outdoor activity. We have one soccer game and one fall league baseball game to watch today. A great way to spend a Sunday. Good analysis on MRK. I expect one more move into O's to shake out the last of the weak hands left in the stock. A sell signal at $64 would probably do the trick. I expect the next upturn into X's to lead to another buy signal and a break of the BRRL. Hardly any good news out there for the stock, ie: weak pipeline, rotation out of defensive stocks, stronger names like PFE in the group etc., and that's probably good for building a wall of worry for the stock to climb. PFE (37 p/e 1.0% yield) is about to run into the horizontal resistance of life between $45-46 and I'd much rather take my chances with a cheaper name like MRK (21 p/e, 2.1% yield) which has much more upside potential technically and fundamentally. stockcharts.com One stock which I also own that is beginning to worry me is PEP. PEP recently had a buying climax (for those interested, a buying climax occurs when a stock makes a new 52 week high but closes down for the week) and a big spread Bull Trap right at the highs. stockcharts.com What's your take on the stock, my friend? Take care, Bruce

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