A quick review of the news about BMY (always a good practice) counsels caution.
It was the leader in option volume yesterday, with several imbalance on the sell side notices from the NYSE in yesterday's trading, and also several the day before.
A Reuter's article showed increasing short interest in BMY.
I normally am not big on news as a decider. However, BMY, as a pharmaceutical company, is more news sensitive than most.
Now, no news today, and it could be that the shorts are covering. But all in all, I think there are too many negatives on this puppy. I'm not touching it.
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