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

To: Stockjet who wrote (2813)	5/23/1998 1:54:00 PM
From: HoodBuilder	Read Replies (2) \| Respond to of 9523

In respone to your post to Option Jerry, you have to realize that he's a very emotional guy and as his friend I can tell you that his Bull/Bear positions go up and down like an 80 year old on Viagra. For the most part he loves PFE but after the news he felt that the MOs would exit on the news which I believe they started to do on Friday. If nothing else the FDA warning/investigation may but a damper on the upward momentum in the short term and I still feel that the average person who bought in recent time ( and there are plenty) might read the various press releases and combined with general market uncertainty decide to sell. This blow off should allow long term investors to pick up stock at artificially low prices (sub $100) and be positioned to ride the next wave up after the FDA non-sense blows over. Technically (O.J. is a big P&F guy) the stock printed 104 and that represent a break on the P&F chart. We could see $98 in the near term and the stock is way above Bullish Support so anything can happen. Even the greatest stocks are not immune to profit taking, i.e. DELL and the death issue is not much different than missing the whisper by a $.01. Tuesday will be a very important day for PFE and the direction and volume will IMHO set the tone for the near term direction. I would bet on a 3-4 point negative move on double average volume, then a surge of bargain hunting on Wednesday with some side to side movement throught the rest of the week as more info from PFE & FDA emerges.