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

To: Brian Malloy who wrote (875)	3/31/1998 4:47:00 PM
From: Barron Von Hymen	Read Replies (1) \| Respond to of 9523

Do you know what the difference is between float and shares outstanding is? Have you any idea what Pfizer's policy about share buybacks are and how much stock they have in their treasury?

To: Brian Malloy who wrote (875)	3/31/1998 4:53:00 PM
From: Barron Von Hymen	Respond to of 9523

At the risk of total embarassment, I don't think the market's are in any danger of sharp sell offs. We are seeing nervous buying as evidenced by the volatility shown today in the SP500 and Dow. Usually market tops are signalled by buying without fear. When your barber starts putting his life savings into stocks with extreme confidence you know that there might be trouble ahead. Further more, economic reports set tones for several weeks , and did we ever get a nice report today. And valuations? Hah, remember the Nikkei was at the level of the DOW not that long ago. It's a nice time to be in equities. Regional surveys of purchasing managers' sentiments showed business activity picked up without sparking higher inflation. The Chicago branch of the National Association of Purchasing Management reported that its business conditions index rose slightly, although measures of prices paid and employment both fell. As expected, the Federal Reserve left interest rates unchanged, apparently reassured by recent data showing inflation remains tame.