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Pfizer Inc. Message Board

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  • pfein2012 pfein2012 Jan 30, 2013 2:26 PM Flag

    I just sold short 5,000 shares of Pfizer

    Are you (sorry) being emotional here and implying that the market is wrong?
    Granted, if the big market pulls back, so will PFE. On market pulling back, I am with you.

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    • I'm not being the least bit emotional. I waited very patietly for the stock to hit a certain overbought level that has been the death knell for virtually every Pfizer rally in the last six years that has gone this far.

      How high is high and when has a rally simply been overdone? RSI is the best measure that I have ever seen for determining this and RSI 75 is virtually as high as things get. When I sold short, the index was right at 75.0; now the reading is at 73.9.

      This is the second straight day for there to be a closing reading above 70. The record in that regard over the last eight years has been four consecutive days in the 70's. As I mentioned in my previous post, I believe that a tradeable decline is imminent and likely started in today's last hour or two.

      Sentiment: Hold

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