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Strategies & Market Trends : Value Investing
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To: Carl Worth who wrote (19783)10/7/2004 10:30:12 AM
From: E_K_S  Read Replies (1) of 78603
 
Hi Carl - You are probably correct but right now with MRK and PFE they are in a free fall and the best thing is to wait and watch. The same type of thing happened with HAL in 2002 with their aspestos litigation. The stock was trading around $50 and reached a bottom of $8. I loaded up at $9, continued to collect the dividend and two years latter it has reached a recovery high today of $35.5.

Check out the five year HAL chart during this period
finance.yahoo.com

I believe MRK & now PFE are experiencing an extreme sell off which when done will become excellent value plays. The question is how long it will take. HAL experienced a double bottom with a lower low on lower volume and took six months to reach it's final low. The OBV was the statistic I used to guide my entry point for my initial buy.

MRK & PFE will take a similar amount of time so I suspect by 2nd quarter 2005 we may see some final low . What the final low price may be is anyone's guess. MRK at $10 or $15? Dodn't know but whatever it is, it will be a huge value play so I continue to watch. Both PFE and MRK are excellent companies so at some point the value investor may get a chance to buy for 50 cents on the dollar.

EKS

I do hold a small position in each company that I acquired years ago and plan to hold and collect the dividend.
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