This is a condensed version of the Stocks Update. I sold PPS today at a loss of 2.8%. My actual loss was only 50 dollars. Goldman Sachs came out with a "neutral" rating on PPS two days ago. At the time, the stock was selling for around 35 dollars a share. Goldman's report established a price target of 32 dollars a share. The stock dropped to 34 dollars a share. Now, if Goldman thought the price should be 32 dollars/share, then why didn't it issue a "sell" rating? This strange rating system makes no sense. Some conspiracy theorists allege that Goldman Sachs' research arm knows that its brokerage arm has shorted certain stocks and will issue reports depressing a particular sector, allowing Goldman to cover its shorts. Maybe Tim Donaghy knows something about this. The SEC and DOJ might want to work together. I'm just sayin'.
In some semblance of sanity today, PFE went up on a down day for the market, which is what defensive pharma plays should do.
I added to my GE position, and also added 200 shares of Intel (INTC). Right now, my major positions are only in PFE and GE. See you in five years or more, while I collect my dividends. If I see some share price increase, that's just ice cream on the pie slice, as far as I'm concerned (I hate gravy, so I won't perpetuate that colloquilism).
Closed Position
PPS (-2.8%)
"And if an epitaph be my story, I'd have a short one ready for my own: I had a lover's quarrel with the world." -- Robert Frost
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