Update - PFE UARM

PFE opened in the pre-market at $26.13 after trading slightly higher after hours last night. The stock saw a pre-market high of $26.23 at 9:05am before slipping to $26.00 before the bell. The stock then opened at $26.21, had a slow steady climb to the high for the day of $26.46 just after 11:00am before falling quickly to a low of $25.32 on what I can only assume was the charges laid against the company about patent infringement with PFE's inhalable insulin product and the shortening of their patent of Lipitor by 15 months. Without that news, it appeared the stock was holding strong and didn't have any Cramer pop and drop. Like I mentioned last night I would have been surprised if Cramer could really move the stock too much considering its high daily volume.


UARM, Cramer's sell pick interested me today because I thought it would be a good example of what might happen from a sell pick. Cramer had been positive on this stock at the IPO and a few times afterwards. He was up and down on the stock since then and I recall he wasn't impressed with their first earnings report and mentioned the p/e ratio was getting a bit high and he repeated that again last night as a reason to take profits and run.
UARM opened in the pre-market at $38.65, after dropping as low as $37.60 last night. The stock then went even lower then last nights price and hit a low in the pre-market of $37.30 even though a few minutes later it was back over $38, but went back to $37.41 just before the bell. The stock then opened regular trading at $37.33 and did show the "reverse Cramer effect" as the stock quickly went up to the high of $38.18 before drifting lower and staying down for the rest of the day.