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Strategies & Market Trends : John Pitera's Market Laboratory
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To: nspolar who wrote (8486)12/4/2007 7:27:19 PM
From: John Pitera  Read Replies (2) of 33421
 
Thanks for posting the article and the chart. The WMT chart really appears to be a bearish descending triangle with a flat line of buying support near 40 and successive lower highs.

a stock price of 10 would be the measuring objective. If you look at how WMT and Sams had to really collapse margins on a number of prescription drugs to ward off the antagonism they have received in the media and marketplace is telling of the shifts in their fortunes.

I happened to be getting a prescription at Sam's Pharmacy today and the woman in front of me in line was jolly woman in here early 60's, she was laughing and talking about how she just bought some stock in Sam's today.... (I assume she meant WMT). She struck me as a little too confident in talking about her stock purchase. This is very anecdotal, but it goes with my thinking that this stock has downside.
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