Zeev's Turnips Patch-No Politics (ZEEV)

[jdaasoc]

AMGN is going to have some pressure becuase Wyeth stated it's intention to sell its holdings in AMGN. However, not enough IMO to lead to the meltdown you envision.

PS I got myself to pretty portfolio value neutral by closing my most agressive short PUTs like brightness. I have slightly more long exporsure from EMC EDS CSC longs I opened up today minus AMGN IBM short PUTs I bought back at end of day. Still got way to much tech long positions that really didn't move higher today.
Not going to get greedy on the long side and fairly respectful on the short side.