I said yesterday that “There seems to be some consensus that PM might be worth somewhere below $55″.  I may have spoken a little early.  One of my advisory subscriptions has a target of $57.50 on PM that I had missed (forgotten about?) earlier.  In an update on PM two days ago they suggested that PM might even blow past their target based upon the great 1st quarter results.  As I said yesterday, time will tell.

As I write this PM is down .54 to 51.46 in a down market.  My May08 55 Calls still look good for now.