In our last review of Bristol-Myers Squibb (BMY) on March 9 after a quantitative downgrade from TheStreet's Quant Ratings service, we wrote that, "The downgrade to hold by our quantitative service does not help our cause. At current levels BMY is sort-of in no man's land - not bullish and not bearish. Traders who are flat should wait for a close above $68 to go long, and traders who are still long and can risk a wider stop could hold."
More from Stocks
Avoid the beauty contest of price momentum that has arguably led to relatively large extremes of overvaluation today.
The Fed backs off on claims that inflation is transitory and sets the stage for future rate hikes.