About the Author

Stephen Oakes is an experienced financial titan from New York who brings Wall Street to Main Street. Over the past 11 years, he has developed and tested the renown, Oakes Momentum System, which uses a unique constellation of technical indicators to find timely buy and sell points. He holds an M.B.A. in the United States (New York) and has studied internationally at the Reims School of Management in France.

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Banking on Merck Stock (MRK)

April 13th, 2007 • Related • Filed Under

With the recent momentum in Merck I decided to pick up shares in the stock about a week ago and follow the recommendation warning of an imminent move to come.

Merck & Co. shares jumped 7%, hitting a 52-week high Friday, after the company raised its earnings outlook and said a federal judge had dismissed a class-action suit over disclosures related to its pain reliever Vioxx. (Source: Wall Street Journal Online)

The stock shot up $3.84 alone so far today, equating to an 8.28% gain. Overall, I am up about 14% and I strongly recommend that you take half of the profits off the table due to the fact that the recent price movement is classified as a “gap” and may fill over the next few weeks.

For those of you who missed the boat, I promise we’ll swing for the fences on my next investment idea.

Good Investing…

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