markets 11/29
Looks like Pfizer is cutting 20% of its sales force.The pharma industry as a whole may well take a hit soon with new government leadership threatening to change the way medicare drug benefits are negotiated and carried out. Interesting article in the WSJ a couple of weeks ago pointed out that this may in fact actually lead to an overall increase in drug prices (op-ed section I believe).
Blockbuster has it's new Netflix-competing service available now that may end up being a better alternative to the mail-service pioneer. We shall see.
commodity markets
corn is still rediculously strong. Same with beans and right now there is no end in sight; however, last night 11/28, the corn market did close right on near-term sharp uptrending support, so Wednesday's action may prove corrective in nature if this support level is violated (378 for mar-07 corn).
gold seems to have some underlying strength. Looking ahead to Feb '07 gold shows that 650 is a key barrier. Surpassing it could give further strength to the bullish run.
posted by jared @ 4:55 AM
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