He got joo-joo eyeball he one holy roller
He got hair down to his knee
Got to be a joker he just do what he please
--Beatles
I'm probably seeing more than what's really there (a.k.a. talking my book or confirmation bias), but I continue to dig how Merck (MRK) is trading. Months of sideways action, followed by a challenge of the long term downtrend line and 50 day MA.
Should it push thru and then surmount $30 (can you see that key resistance level above30?), then I would construe that as quite bullish.
Pharma's generally been a house of pain for the past couple of years. It's interesting that names in this sector are trading firmer in the teeth of all the health care reform chatter.
position in MRK
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2 comments:
I expect that Big Pharma took care of themselves with respect to the reform legislation.
Perhaps. I know you're the corporatacracy guy. But it could just be mkts sensing fundamental value after a big time shellacking.
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