Friday, May 15, 2009

TMO Shows Weakness

Latest numbers and chart pattern for Thermo Fisher Scientific Inc. (TMO) have made me revise the assessment for the company's near future performance.

Insider selling, price sinking today below its 50 dma and strong overhead resistance, resulted in my choice to exit a long position in the stock.

Bought at about 37.41 on 2/18/09, selling today at 35.04, near a 6.5% loss in 3 months.

I would say it's time to get out and search for better prospects.

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