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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (29883)	1/7/2010 10:08:40 AM
From: E_K_S	Read Replies (1) \| Respond to of 78774

If you are willing to risk a few dollars, AMGN may be a speculative buy here. F.D.A. Plans Safety Check of 3 Drugs for Anemia nytimes.com From the article:"...The Food and Drug Administration said Wednesday that it would review of the safety of the widely used anemia drugs sold by Amgen and Johnson & Johnson after another clinical trial suggested that high doses of one of the drugs might cause strokes...." ================================================================= The stock of AMGN is dropping like a rock, breaking short term support at $55.80. The 50 week MA at $54.38 may not hold, so I am looking for an entry point around $53.5. I will watch weekly volume and may take a position if a lower low is made on lower volume from it's previous (weekly) test 10/27/2009 - 11/02/2009 of 40.2 million shares. The stock is in value range at 10.2 next year's earnings (analysts estimate FY 2010 $5.15/share) but may not be worth as much if the FDA limits the distribution of their block buster anemia drug. They more than likely will just require some additional labeling information. EKS