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

To: HiSpeed who wrote (4445)	7/18/1998 5:03:00 PM
From: B.REVERE	Read Replies (3) \| Respond to of 9523

Hispeed, technically pfe is still trending upward with 115 being their major support level. Resistance came at 120 last week due to options expiration week. Anyone with ITM (in-the-money) calls of 115 or 120 took profits rather than wait to see if pfe could continue higher. I sold my 115's last Monday and rolled them to the 120's for August. I expect pfe to continue its upward march starting Monday now that options are out of the way. MM'S did a great job of driving pfe from 116 3/4 to 115 1/2 the last ten minutes of trading yesterday. By not closing 3/4 above the 115 strike, there is no automatic assigning of shares and 115 calls at that point expired worthless. With over 6000 115's still open, costing on average 2 1/2, the mm's grabbed an easy 1 1/2 million. Options trading will make you rich or poor in a hurry, but 80% of those who play wind up losers. Deep ITM calls are the safest way to play pfe. They will have their ups and downs, but their long term risk is minimal. Later,

To: HiSpeed who wrote (4445)	7/18/1998 7:09:00 PM
From: zurdo	Respond to of 9523

HiSpeed, I see that B.REVERE has posted an excellent reply to your request for insight into how PFE looks technically....I wholeheartedly agree with his views...He is also right on the money regarding options trading...a dangerous game in a stock where MMs are selling options...MMs DO have the power to keep a stock price down until the options they have sold expire worthless, and they keep the profits from the sales of the options without having to surrender the stock...I might add that PFE has performed exactly according to its usual pattern...It went up slightly above 120, then a couple of negative bllsht stories appeared in the media, right on cue, to drive the stock down...The first of these was a shopworn reiteration of Zonagen's application to the FDA, followed by the frivolous lawsuit story...I agree with B. that PFE will climb back up next week...