Ask Vendit Off Topic Questions

[Vendit]

I assume the FDA rejection of Zelnorm is why the stock shows profit taking. It’s always the same story with drug companies. They move very fast in either direction depending on the nature of the news release. Investors will now turn their focus towards the next drug moving through there pipeline.

This blurb sounds promising;

"Novartis maintains its outlook for double digit pharmaceuticals sales growth which is expected to be in line with or above the market in 2001 and 2002," said Thomas Ebeling, head of its pharmaceuticals division, in a statement.

The tall candle on Monday shows selling on heavy volume. Based on the rather small volume contained in Tuesday’s range I would say the downward momentum is drying up. All signals are in an over-sold condition. My thought would be to look for a short term bottom to form in the current area.

http://www.askresearch.com/cgi-bin/chart?symbol=NVS&country=USA&size=640x480&months=3+mo...


Is that PE for real? .30

JMHO



Reid