Hedge Funds are doing the big time shorting instilling fears in the name of corona virus racking trillions. They will buy back once people realize the effect of carona virus not that bad. And the hedgies buy back and make money both ways. They control the market, imo.
That said, I do agree with those who think the market is in for a rather large drop, and not just a pull back. I find it helps sometimes to chart the S & P all out and see it drawn out in front of me. Below is a chart I'd done back in December 2018 (so long ago) where I'd been anticipating that the drop we'd experienced on 12/24/2018 was the start of a rather large fall. That obviously was NOT the start of the drop as the market turned right around to hit 3386.15 on Feb 19, 2020.
I think, personally, the market was being somewhat propped up, so props can only temper but not stop a natural (or maybe not so natural) global type disaster or pandemic. Anyhow, if one follows Elliot Wave Theory, this will likely look familiar to them. Obviously, the third wave continue up much further, but it seems rather unlikely that it will continue to do so now. And that's not to say that I believe in the Elliot Wave Theory, but I do believe that some who do control the market do.
I would of course rather any good or interesting news NWBO had to impart came out in a boom market, but on the other hand, cancer killing treatments are always considered a good as well as necessary thing so there's that.
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