Before there was Madoff, there was Cornfeld.
The story of Bernie Cornfeld is one worth reading up on, if you have not done so. We have a long-time iBankCoin reader, and loyal member of The PPT and 12631 who goes by the handle @BernieCornfeld (must follow!) as well. This morning, he noted the strength in healthcare firm, Baxter.
Looking at a monthly chart of BAX below, you can see a multi-year inverse head and shoulders pattern resolving higher, exceeding the 2002 highs to boot. A test of all-time highs at $71.53 figures to be in the cards. Clearly, the market is indicating that Baxter could be one of the winners from Obamacare–At the very least, they are not one of the losers.
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careful
Agreed, health care is overvalued and already selling off for a pullback, along with the rest of the market. Buyers will be waiting down below for better price and their attractive dividends during market decline and low Bonds rates. Mutual Funds,Value Investors,and Hedge Funds, are waiting below near value areas along.
Will you be entering Baxter? looks due for a routine pull back.
Amgen eats baxter’s lunch