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Monday, July 21, 2008

gaining ground - but for how long ?

Proposed action for tomorrow's trade None
Today's action None
Famex 9323
News for today : 1 : Wall Street fluctuated Monday as investors worried about earnings at drug makers Merck & Co. and Schering-Plough Corp., and oil prices moved higher.

Both pharmaceutical companies fell sharply after they took the unusual step of delaying their second-quarter results until after the closing bell. The last-minute switch will allow European researchers to present data from a study of the companies' cholesterol drug Vytorin, and some analysts predict the results might be bad news.
News for today : 2 : Technical Analyst Ashwani Gujral said beyond a knee-jerk reaction the market will not look at politics very seriously. He feels investors should book profits, if there is a gap-up on Wednesday.
Stock Barometer 3 volatile
Strategy for today : Hold to stocks. And invest in good stocks.
Quote for the day : "Diversification is a protection against ignorance. It makes little sense for those who know what they're doing."

- Warren Buffet

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