Long and Strong in Pharmaceuticals

According to the prospective for Pharmaceutical HOLDRs Trust (Ticker: PPH), they hold twenty of the largest and most liquid Pharmaceutical companies. Since I first profiled this ETF on July 24th the chart action has continues to be constructive. I’ve made three purchases of the fund since I first spotted the nice looking chart which on a week or month chart had completed a head and shoulder bottom basing pattern. Those buys are in the green with 5.18%, 5.47% and 5.63% gains. Not terrific returns but respectable given the short holding period of under six weeks. On the weekly chart (bottom right) the stock price has just broke out from a high tight flag, which is generally a sign of the strength continuing.