Longer-Term Market Trends Message Board

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Strategies & Market Trends : Longer-Term Market Trends

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To: AllansAlias who wrote (1894)	10/26/2008 6:56:41 PM
From: Perspective	of 3209

Are you positioned on JNJ now? I know you don't put a whole lot in FA, but man, they gutted the balance sheet on this one, too: finance.yahoo.com Look at the collapse in tangible equity. They made a big takeover purchase at huge premium. Now they trade for 10x tangible book. They better hope they don't have any earnings hiccups, or that 1994 base around $10 is going to beckon: Ya know, if I didn't know any better, I'd think the ENTIRE action from the 2000 low was a HUGE ending diagonal, with wave "e" unfolding as it's OWN ending diagonal. Back to $30 pretty quickly? `BC

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