bpt monthly drill report, page-8

I must predicate my views on buying in this market with the obvious caveat that all of our "fundamental" views on our market could easily be blown out of the water when we again see the so called "leaders" in Europe dropping the ball.
With virtually all of those governments and the U.S. being broke, there is a huge likelihood of a mass exodus from equities into cash and this is already playing out with the large investors being prepared to exit equities ($500 billion has left the U.S. equities markets in the last 10 years and $750 billion has gone into long bonds) and huge sums going into German bonds where the "return" is negative. It is like sailing ships fleeing to a safe port to avoid the storm.
Will that storm hit??? That is the huge question teasing all capital markets and should be in the back of all minds when making investment decisons in the near term.
But, re ICN, my LT view remains the same, albeit that you might be able to buy them cheaper ST, IF that storm does hit. Keep your eyes and ears wide open.