Carnage on Wall Street signals fears about U.S. economy ???

[bwframe]

 

[ArcadiaGP]

Shanghai stocks opened down 4.39% on deepening gloom over the Chinese economy

 

[Ericpwp]

Looks like volume at the lows.

 

[DWT]

Volatility will be the rule of the day. If you aren't really into risk, it might be good to be into cash rather than in the markets. And why not be in ammo instead of in cash???

 

[bwframe]

Global stocks slide as jobs data makes Fed move unclear

Dow16,102.38-272.38 (1.66%)

One of the talking heads on Cavuto is concerned about the possibility of being in a recession by the end of the year.

 

[Jackson]

 

[Jackson]

Actually, a good downturn wouldn't be too bad right now. I've got a slug of cash that will be freed up at the end of October and its headed in to the market. If things are on sale, all the better.

 

[bwframe]

Denny Smith mentioned on the radio today he expects downward trending for the next few weeks. Also made reference to some in the financial business suggesting we might be headed for SHTF?

 

[Jackson]

Denny Smith mentioned on the radio today he expects downward trending for the next few weeks. Also made reference to some in the financial business suggesting we might be headed for SHTF?

Oh dear.

 

[bwframe]

Worst Quarter in Four Years for Global Stocks [Video] - NASDAQ.com

Sept. 28 -- Global stocks are on track to post their worst quarter in four years and much of that is due to the slowdown in China and the uncertainty over a rate rise in the U.S. Bloomberg's Juliette Saly reports on "First Up."

 

[Jackson]

So, what do we do? Sell it all and consolidate in to gold? Forget gold and start excavating for that bunker we always wanted?

 

[pudly]

There is no one solution. Gold/silver can be a portion of your financial portfolio, but even most advocates don't recommend more than 10% of your wealth there. Even then, there is good/bad ways to invest in precious metals. There are reasons to to doubt the long-term viability of the easiest way to get into gold, the GLD ETF. At last report, there are over 200 shares sold for each unit of gold that they actually store. That is much worse than even bank reserves. If you understand what a bank run is, that type of pressure happening to GLD right now. If you go that way, then owning physical metal is the recommended path.

 

[GIJEW]

There is no one solution. Gold/silver can be a portion of your financial portfolio, but even most advocates don't recommend more than 10% of your wealth there. Even then, there is good/bad ways to invest in precious metals. There are reasons to to doubt the long-term viability of the easiest way to get into gold, the GLD ETF. At last report, there are over 200 shares sold for each unit of gold that they actually store. That is much worse than even bank reserves. If you understand what a bank run is, that type of pressure happening to GLD right now. If you go that way, then owning physical metal is the recommended path.

also, if there is an economic meltdown, it's a safe bet that the banks/.gov would confiscate all those gold shares in an attempt to limit their damage.

 

[Jackson]

Meanwhile, my net worth is increasing slowly.

 

[bwframe]

Meanwhile, my net worth is increasing slowly.

I'd like to fill out the application to become your driver, for future consideration.

 

[Jackson]

I'd like to fill out the application to become your driver, for future consideration.

You'll have to do it for free. I only plan to save and grow enough to support myself. When I hit the mark I'll stop working and start spending it.

 

[bwframe]

You'll have to do it for free. I only plan to save and grow enough to support myself. When I hit the mark I'll stop working and start spending it.

I've worked for tips before.

 

[bwframe]

http://www.wsj.com/articles/global-stocks-fall-on-oil-and-china-woes-1452850130


Updated Jan. 15, 2016 12:37 p.m. ET

Stocks around the globe tumbled Friday, with the Dow industrials falling more than 500 points, as steep declines in oil prices and Chinese equities heightened investor anxiety.

Investors fled stocks and rushed into assets perceived as safe, sending the 10-year Treasury yield briefly below 2% and gold sharply higher.

Traders described the tone for Friday’s session as jittery, and the closest to the level of nervousness of August so far during the selloff.

They cautioned that many investors may be unwilling to enter the weekend with bets against U.S. stocks, particularly because the U.S. stock market is closed on Monday while other markets, including in China, are open and could swing even lower.

The Dow Jones Industrial Average fell 522 points, or 3.2%, to 15855, in recent trading, falling below 16000 for the first time since Sept. 29.

The S&P 500 declined 3.4% and the Nasdaq Composite fell 4%.

The Dow industrials and the S&P 500 are down nearly 9% so far this year, while the Nasdaq is down 11%.

 

[Jackson]

Buy in opportunity.

 

[Leadeye]

Scary for us old folks.