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Johnson & Johnson Message Board

  • credorules credorules Sep 22, 2003 4:18 PM Flag

    How do you measure this day?

    Not by how much the stock gained, but by how much did it did not lose!
    Pretty sad.

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    • "Not by how much the stock gained, but by how much did it did not lose!
      Pretty sad."

      I don't think it's a fair characterization to call this assessment "pretty sad." A lot of the downside today was caused by MASSIVE selling in Asian markets (of stocks, bonds, treasuries, you name it) trying to get out of US-denominated assets (whose value drops every time the currency weakens), and so the selling was for a large part indiscriminate. The only stocks I saw today which were significantly to the upside were those with good news to report (e.g. AT&T). For the most part everyone else suffered to some degree, though the more speculative tech-related issues felt greater pain (and deservedly so).

      I think after the Wal-Mart results announced that suggest retail sales will be good we're going to get a higher open tomorrow, but I expect the week as a whole to be net negative and for JNJ to be closer to 51 than to 50.

      JMO, but don't discount the fact that JNJ held at 50 and even managed to close above the support level!

 
JNJ
99.02Jul 28 4:00 PMEDT