Why is my post of 3-7-14 to the topic Dr. Paul Nucnio DeSanitis (2-28-14) attributed to you??
I won't short it yet......the original poster called it a dog....reasonable question to that post is: if it's a dog why not short it? I'll short it (sell covered call options) when it's overpriced. It's not over priced yet. Read my post "anticipation" for the reasons not to short now.
Abbv presented very favorable HCV treatment results in their PEARL III clinical studies. This combined with their stated early second quarter submission to the FDA (probably before April 30th) is probably responsible for the 8.7% and 2.9% stock price increase over the past one month and 5 days, respectively (based on a 52.00 price). The FDA will give fast track approval consideration and based on the data should approve the drug. I think the Market is anticipating approval probably by August 30th and Abbv giving better pricing than that offered by Gilead. The stock should continue higher by and should challenge or exceed the 52 week high. Should be a good year for Abbv. I bet they are burning the midnight oil to get that submission to the FDA asap.
Poor Abt just can't close above 39. Traded several days above 39 but just can't keep it at the close. Perhaps the P/E is too high to justify 39. Have been hoping to see a new 52 week high, but may have to wait for favorable first quarter results. Patience is needed I guess. Anyone want to predict the 2014 high?? I'll guess 43.75, hope it is too low. What about a dividend increase?? Abbv increased 5%, be nice if Abt followed through with an increase. Just thought Abt stock people would like to read something about Abt instead of the span usually posted.
The herd reaction to brokerage recommendations or downgrades give the opportunity to sell or buy at good prices. Took advantage of Morgan's downgrade to cover some Abbv calls and harvest profit. Time for Abbv to move up and sell the calls...........again. Clinical results may offer the opportunity to sell some calls.