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

To: BigKNY3 who wrote (7637)	5/8/1999 10:36:00 PM
From: BigKNY3	Respond to of 9523

More Cramer from TheStreet.com on PFE 5/8/99 BigKNY3 Pfizer is one of my favorite companies. Its management is fantastic, truly among the top 10 in the world. To which I say, so what. All the good management in the world won't mean a thing if this economy rockets higher, because people won't want to be in defensive stocks like PFE. But the landscape changes fast in these parts. Once the rally began it was critical not to be short Pfizer because the drug company was severely oversold and wanted to lift under any pretense, particularly a bond-related one. The bond move signaled to drug stock players that maybe the economy was cooling and you should be more defensive, as in buying the stock of Pfizer as a proxy for this economic weakness. Pfizer was therefore "wrong" to be short for this rally. It might be right in another session, but remember, we are talking the war of May 5, 1999, and nothing else. The bulls won that war.