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Biotech / Medical : PFE (Pfizer) How high will it go? -- Ignore unavailable to you. Want to Upgrade?

To: t2 who wrote (7847)	6/9/1999 10:26:00 PM
From: Dave Mansfield	Read Replies (2) \| Respond to of 9523

luther, Why is PFE a defensive play against interest rate increases. It supports a very high PE. I'll take this one. An economic downturn (possibly started by an increase in interest rates) will take many stocks down, especially the cyclicals. Drug stocks however are not so dependent on the economic cycle. People get sick and need drugs no matter what condition of the economy. As a matter of fact, economic downturns tend to bring out the worst in people. Could spur demand of their anti-depressant Zoloft or their Yipee drug Viagra. If people sense an economic downturn, a rush to the non-cyclicals could ensue, driving up PFE. May not be correct, but a logical theory.

To: t2 who wrote (7847)	6/10/1999 8:50:00 AM
From: luther yow	Read Replies (1) \| Respond to of 9523

After the downgrade this morning, I would assume that anything that I think is wrong. I've been trading a long time and I still get tricked by the market makers. All the upgrades were to get out the big guys at the expense of retail traders. Had five upgrades in the last two weeks and every one on CNBC spoke of how good an investment that PFE was. Actually if you went against all the advice and sold short, you could be a rich man today. However I am much poorer and hopefully more wiser. Luther