PFE: Sell Zone is 58-60

Pfizer's W-4 bottomed right in our "Buy Zone" and has bounced 10% since. I expect Pfizer to continue to climb up to the $58-60 level over the coming 2 weeks or so. After that, Pfizer will pull back for it's larger degree W-2, which should bring price back to about the $50 level. We will have more clarity on pullback targets once W-5 tops, most likely in our "selling zone". The point is, this is not an idea time to start a position. I will be selling covered calls against my shares of Pfizer when we reach the selling zone, and will be looking to add shares for about $50 sometime in Late May/Early June.