Full market blowdown. Precious metals getting spanked too. No doubt that the Black Swan event of Covid-19 has arrived and has hit the markets and world economies with a sucker punch.
We are officially in a bear market and it came on fast. Everything is being sold. There does not appear to be a safe place to park your assets other than cash.
Looks like some buying opportunities on many stocks, but we were saying that a couple of weeks ago. The big question is "How low is low?".
Those with big cajones may be willing to make a move now, but I think for the most part, there will be continued selling and traders/investors will be sitting on the sidelines waiting for things to settle down.
The best thing would be if Wall Street followed the NBA and 'suspended' their sessions for the rest of the month.
Regarding AMRN...not sure what to expect. At these levels, even a positive decision by Judge Du would probably only get us to low teens (and that's assuming not a much further decline below $11). Does the lower price make us a more attractive BO candidate? Well, we always are telling ourselves on this board that we should load up as "we'll never see these low prices again". Have been hearing that for the past 3 months. Again I ask..."How low is low?"
Maybe the price is getting low enough for BP to make a lowball offer. Obviously us retail shareholders are extremely frustrated. Unfortunately we are getting hit with a perfect storm of unresolved patent litigation, no word on the EU front, lack of viable DTC ads, and now the Covid-19 virus.
Still hanging tight, but it is by my fingernails.
Cheers!
Flubber
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