Yes, I am "taken in" by the bullshine of the two big pharamaceuticals.
Part of my AZN decision was their huge cash pile and no debt.
If the stockmarket plummets, AZN will have the ready cash to buy out some of their competitors at rock bottom prices, which would then reinvigorate AZN's future earnings prospects.
The two big pharmaceuticals (AZN ang GSK) have acceptable earnings prospects, low P/E's and big dividends.
Both came through the 2008-09 recession, increasing both profits and dividends.
AZN and GSK are very welcome in my portfolio; 7% weighting in each.
Maybe the shares will go lower and the shorts - such as yourself - will have some fun.
But I bought them as part of a high-yield portfolio, with the specific objective of milking the long-term dividend payments.
The money to buy them came largely from selling some of my very profitable gold positions. Today's hammering of the gold price makes me glad that I managed to take some gold profits off the table.
Each holding in my portfolio is viewed like a piston in an engine.
In any given month, some go up, some go down.
But overall, they should gradually drive me forwards, even if one or two pistons aren't firing properly.
Even if all I do is pocket the 5.5% net dividend yields, the yield alone looks very attractive in this very low-growth, low-rate environment.