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

To: John F. Dowd who wrote (5860)	10/8/1998 2:04:00 PM
From: Anthony Wong	Respond to of 9523

John, the best thing that can happen to you on a day like this is that one of your stocks had been downgraded, then you can switch it to one which has been upgraded (they'll all be down anyway). Pretty soon value investors would come in, switching out of their "dogs" to PFE, GE, WLA, DELL, CSCO, LU, INTC. Anthony (Still looking and soon buying, pharma sector bottoming with today's frantic selling)

To: John F. Dowd who wrote (5860)	10/8/1998 4:15:00 PM
From: Anthony Wong	Read Replies (1) \| Respond to of 9523

John and thread, earnings should be out on 10/14. Should be a good quarter for PFE. This tidbit is from a Bloomberg article today on Abbott's earnings: Abbott, based in the Chicago suburb of Abbott Park, Illinois, said sales of pharmaceuticals and nutritional products, such as the infant formula Similac, rose 5.5 percent to $1.72 billion from $1.63 billion. The group includes drugs such as Depakote to treat epilepsy and manic-depression, and the antibiotic Biaxin, which is facing increased competition from Pfizer Inc.'s Zithromax. Lipitor is continuing to gain market share as well. Weakness of US$ also positive for drug stocks, but this would only affect 4Q earnings. My gut feel is that the big pharma's recent correction is over. Dangerous to short the stocks just prior to earnings announcement.