PFE - Pfizer Stops Trial on Torcetrapib Cholesterol Pill

It will be down more than that, probably 6-7.

 

Even better.

Maybe I'll wait till Tuesday or Wednesday.

If PFE falls to $20 or $19, I will buy it till my ears bleed.

And I'm bearish.

 

But why?

I mean, why would you rush in to buy it?

What would keep it from going even lower??

 

PFE is one of the most profitable drug companies in the world, and they have one of the lowest P/E ratios - coupled with massive amounts of free flow cash.

Could it go lower? Sure. But I'd take my chances.

What's not to like?

 

Thanks.
I am not familiar with it so what you said helps me alot.

 

PFE should fall at least 1.50 or more tomorrow on this news. This drug was suppose to bring $20 Billion.....I think a 52 week low is certain sometime in the next 1-3 months.

 

If this stock falls 25-30% it may be a good buy for a short term bounce. 1-3 day holding. I think PFE can slowly drift to the low 20's.

Look at MRK from Sept 30th 2004,

30-Sep-04 33.40 34.02 32.46 33.00 145,015,504 30.00
29-Sep-04 44.78 45.07 44.64 45.07 4,889,500 40.97

took 2 years + to get back to its original stock price after that drop.

20-Oct-06 45.36 45.64 44.85 45.64 16,211,200 45.64

 

My guess for PFE tomorrow is that it will go as low as $21.75 during the course of the trading day.

 

Already at a 65 day low.
Once this dust settles in the coming days I,too, will be rapidly scaling in(1500-2000 shares) . No specific price target . Looking for $1.00 rebound then I'll sell. Gotta love dem falling knives!!!!

 

That was easy.....and easy money. Made money both ways today.