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February 18, 2005
Merck, Friday, Feb 18, 2005 16:57:14
Do you recall my Trader Wizard November 7 Recommendation to Accumulate Merck (NYSE: MRK) when it was at $26.21? You can review my report for the reasons I gave to accumulate MRK, but I'd like to point out that I also recommended an April-05 22.50 put write to take in a premium of $1.05. Well, everybody just hated Merck then, didn't they? Every broker on Wall Street told you to sell, sell, sell. Was I nuts? Today MRK closed at $32.61, up +24.4 percent in the past 15 weeks, and if you look at the chart, you'll see I picked the exact bottom to advise buying MRK. BTW, you could have bought back the short put today at $0.05, for a $1.00 gain, which just happens to be a 2000 percent profit, but who's counting anyway. Ka-ching!
Posted by Posted by Bill Cara on February 18, 2005 04:56:24 PM | Category: 35 Health Care , U.S. Dow 30