Monday, January 19, 2009
Pharma stocks attractive
The predominant theme emanating from the trend and momentum constellation points investors toward gold and biotechnology stocks. A good number of the current Stock Trends Picks of the Week report are pharmaceutical stocks, some of which traded quite actively last week. On the large cap side of the ledger stands Pfizer (NYSE:PFE), a Dow Jones Industrial entry that ranks number 6 amid the Blue Chip’s 13-week momentum ranking. It has outperformed the S&P 500 by 4% in the past three months and until this week’s entry of Kraft Foods (NYSE:KFT) was the only Dow Industrial stock to have achieved a Stock Trends Weak Bearish indicator. PFE also held steady in last week’s market drop. However, traders are turning hot on junior stocks in the space. Among the NASDAQ Picks of the Week report are a number of biotechs.