(11-26-2013, 01:32 PM)TomK Wrote: I agree that it could drift lower from here, but I am not positive either way. The recent negatives may set very low expectations going forward, such that even neutral to slightly positive news could provide catalyst for a bounce.
That said, this episode may well test whether PM has deserved or will maintain the premium that it has enjoyed in the past over its tobacco company peers.
NilesMike -- looks like you should have had no trouble getting filled at $86, as the price even made it below $85 today. Since then it has been working its way back up and is now down less than half a percent on the day. I'm definitely interested in PM at prices below $86, but I already own quite a bit of it. If prices do go lower, though, I may feel compelled to add. I still count the tobacco stocks as some of the safest dividend growth stocks for the long term.
I did get filled at 86. (Just checked, filled at 85.48) I have no crystal ball showing a short term catalyst, it's in the shop!
This is a decade long play for me, it is a good yield and should work out long term.