Big Pharma Report: August 31, 1998
Due to the dramatic action of the general market, here is a special Big Pharma Report.
A tough day to Have PFun!
BigKNY3
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Big Pharma Review
-Big Pharma declined 8.4% today as compared to the following market declines; Dow (-6.4%), S&P (-6.8%), and the NASTie (-8.6%).
-All of the "Healthy 13" went down with the Dow with only SBH (-2.4%) declining less than 6.5%. The YTD leaders suffered the largest profit-taking; led by #1 WLA (-12.4%), #2 SGP (-9.5%), #3 AHP (-9.4%). #12 BMY (-9.9%) was particularly hit hard.
-PFE declined 8.5% to 93 blowing passed the predicted Peabody Valley of 97.09. PFE is now 2 1/2 points lower than the day Viagra was approved (3/27/98; 95 1/2).
-For August, Big Pharma declined 9.9% as compared to the following market declines; Dow (-15.1%), S&P (-14.6%), and the NASTie (-19.9%).
-YTD, Big Pharma (+15.7%) remains in the plus column as compared to the Dow (-4.7%), S&P (-1.3%) and the NASTie (-4.5%). Every Big Pharma is showing a gain.
Outlook
As a long-term investor, panic selling is always the best time to buy. However, buying in this environment is like trying to catch a falling knife. You need to be careful not to get hurt. Be patient and watch for your opportunities and look for quality ie MSFT, CSCO, DELL and PFE.
Gut-feel: I expect continued selling pressure followed by a dramatic rally initiated by speeches from Moscow. Remember: you still have your health!!
Good luck to all.
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Market Environment Links
-Briefing.com Market Updates
briefing.com
-Briefing.com Market Environment
briefing.com
PFE News Links
Yahoo Link quote.yahoo.com
Motley Fool Link quote.fool.com
Pink Sheets. fdcreports.com
ED News Links
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Motley Fool Link quote.fool.com |
