When markets can�t break out conclusively on excellent earnings and macroeconomic news, it�s looking a bit dangerous. ABT traded inline with the market and you probably wouldn�t expect much else, given that earnings were in line. It�s too bad the late MTG isn�t around to gripe about the one time charges, but I don't know how you buy companies without taking some charges to do it. The company is in good shape, but the stock is still barking. Creeping socialism dominates improving demographics every time and that�s what�s going on here. Ortho stated very well in his post the perception problems that big pharma faces from the investment community. There are probably a lot of institutions that are in the same boat as the individual ABT shareholders who want to sell at $45 or $50 or so. That makes it harder to get there as this selling hits at key price levels or at technical resistance points.
Olstein was up in line with the NAZ and far outperformed the S&P and Dow today. Another cycle high. Junk bonds still flat, despite good economy.
Nervous about this market. Kobe looks guilty. Immigration is a serious problem because liberals extend benefits to people with our money. They are corrupt bastards because they know these people will eventually vote and vote for those who give them the freebies - meaning the Democrat party. Just like today's senior citizens.