RE: Only up from here now13 May 2020 12:02
The whole market is trashed today. There is more pain coming in the wider market as more bad numbers and projections come out. Investors are selling out of builders, builders merchants, retail, banks, everything is getting hit today. When things settle down the cream of these biotech stocks will be one of the only sectors rising from a destroyed market. You can de risk at your leisure and pick up other stocks that are on the floor in time for a recovery next year.
That’s my strategy. I’m staying in biotech until they realize profit, put out the big financials and re rate. Then I’ll derisk and rebalance the portfolio with some of the surviving trashed builders, oilers, banks etc. but for now Biotechs are the only place to be. Everything else is going to get totally destroyed in the next half of the year and into next year probably.
GLA.