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TheStreet Directory

Dow Jones S&P 500 NASDAQ 10-Year Note
10,270.47 1,093.48 2,167.88 34.29
Oil *
75.55
UP
73.00
UP
6.24
UP
18.86
DOWN
0.17
10 Yr
3.43%
SPDR Gold
109.74
+0.72%
+0.57%
+0.88%
-0.49%
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Dow Jones S&P 500 NASDAQ 10-Year Note
10,270.47 1,093.48 2,167.88 34.29
Oil *
75.55
UP
73.00
UP
6.24
UP
18.86
DOWN
0.17
10 Yr
3.43%
SPDR Gold
109.74
+0.72%
+0.57%
+0.88%
-0.49%
Data delayed 20 minutes

RealMoney.com : TSC Technical Forum


Philip Morris Could Get Smoked From Here

By Gary B. Smith
Special to TheStreet.com
11/19/2001 07:37 AM EST

I'll give the fundies this: They often can tell a good story. But here's the problem: They always seem a bit imprecise as to exactly when to act on that story.

That's where technical analysis comes in. I don't know if the story on Philip Morris (MO:NYSE - news - commentary - research - analysis) is, in fact, good or bad. But what I do know is that MO is not only in a downtrend, but a downtrend that has just witnessed a massive reversal!

Related Stories
Altria. What Were They Smoking?
Stocks to Watch: Philip Morris Goes Latin, Krispy Kreme Guides Up
Market Overlooks Philip Morris' Mojo
Philip Morris Loses Steam

Now, in general, my preference is to buy a stock that is either just breaking to new highs, or alternately, a stock that has reached an area of clear support. In both cases the downside risk is clearly defined.

With Philip Morris, though, all we know is that it's locked in a steady downtrend. It's unlikely to go much higher, but it sure could go a lot lower.

The story might be great, but now's the wrong time to listen to it.


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Dow Jones S&P 500 NASDAQ 10-Year Note
10,270.47 1,093.48 2,167.88 34.29
Oil *
75.55
UP
73.00
UP
6.24
UP
18.86
DOWN
0.17
10 Yr
3.43%
SPDR Gold
109.74
+0.72%
+0.57%
+0.88%
-0.49%
Data delayed 20 minutes


Gary B. Smith is a freelance writer who trades for his own account from his Maryland home using technical analysis. At time of publication, he held no positions in any securities mentioned in this column, although holdings can change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Smith writes a daily technical analysis column for RealMoney.com and produces a daily premium product for TheStreet.com called The Chartman's Top Stocks. While he cannot provide investment advice or recommendations, he invites you to send your feedback to Gary B. Smith.
Read our conflicts and disclosure policy.
Order reprints of RealMoney.com articles. Top


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Sorry, the page you requested could not be found

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Content Search:

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TheStreet Directory

Dow Jones S&P 500 NASDAQ 10-Year Note
10,270.47 1,093.48 2,167.88 34.29
Oil *
75.55
UP
73.00
UP
6.24
UP
18.86
DOWN
0.17
10 Yr
3.43%
SPDR Gold
109.74
+0.72%
+0.57%
+0.88%
-0.49%
Data delayed 20 minutes