They own Wall St, the financial press, the FDA, They will manufacture more negative news.
A few possibilities, false drug trials. gouging, price collusion, bribery, illegal payoffs......
While the rig count is positive. Some of those rigs might be PXD's and Saudis are not likely to let up just yet. Not enough bankruptcies yet. They let up every dog will be able to hedge again. That just prolongs the pain.
I also expect Dollar to resume rally even with todays job number.
Sold my cheap trading shares.
Fear of price control will not go away. Pharmas will try to put up a good face by lowering some drug prices even before then. This will hurt earnings. 12% annual price hike is history. Growth rate will be lowered.
I have about 30 small cap biotech in my port. They are down average 8% today. Down 30 40% in two weeks. I think some kind of bounce is due. Sold my LABD protection at market close today. Buy it back tomorrow.
IBB is going much lower for sure. Don't think SP will go that far. All is required is Saudi Arabia end the price war. As oil companies rally the whole market will rally.
before baker rig count.
There was a lone wolf attack on Saudi oil pipeline central. Failed. But you bet there would be better organized attack on the Saudis anyday now. ISIS is bound to move in .
What percentage of PXD business is shale. What locations ?
I bought 100 shares 119.14. Missed the bottom. Plan to do DD this weekend. I owned some shares a decade go. This is a changed company.
20.2 . I was negative on OMER because the test was done on only 6 patients. I still think its a big negative. But Bret Jensen article on seekin... convinced me to buy. Its the shotgun approach. Small positions.
None of the ' reasons ' on the table so far justify it. I'm guessing there is something major like a buyout in the works. All that quality asset should attract long term players like Buffet.
I keep my total in one stock under 1 % of my portfolio. I'm sure you went beyond that. So I say NO.
You can never predict the future of any company not to mention one with so much trouble.
Besides the bankrupt banks the rest of holdings should be alright. Before Tsipras election Greece was on the mend. With this latest bailout Greek economy could only get better . If LaGard gets her way , a big write off will send GREK soaring.
A dead cat bounce is overdue.