DJ, Re: Sinners and Other Good Guys
As to my 10/9 drop dead date, I just believe the market is tracking 97 too close for comfort. It won't cause me any pain to not take any positions until I believe a clear upward trend is in place.
Drugs have been one of the few sectors that have held up fairly well. They are big-time represented in the Index. With PFE's disappointment, it is going to put more pressure on performance.
One of the dispositions that I made Friday, was to dump Vanguard Specialized Health Care. This mutual fund has been a star performer. It is one of only 5 mutual funds that have beat the Index over 1-, 3-, 5-, and 10-years. But, I've watched many of the consumer staple, consumer durables, industrial cyclicals and financials drop to the levels of the monthly trend lines. It's potentially a long way down for the drugs. FWIW
It was surely tempting to buy CPQ late today, but I resisted the temptation.
Berney |
