Holy hell....Rome is burning!

[sparked1]

The stock market is on fire this morning (pre-market), and everyone is heading for the exit. Or, more accurately, someone yelled fire in the crowded theatre and everyone is losing their minds.

• Dow Jones is trading around 24,000 this morning, down almost 19% from it 29,568 high just a couple of weeks ago.
• S&P 500 is trading around 2,800, down 17% from its 3,393 high a couple of weeks ago.
• Small Caps are officially in bear market territory as the Russel 2000 index is down around 21% since its January high as of this morning.

Will be an interesting day for sure. If you're in mostly cash, CONGRATS!

If not.............

 

[jeep78]

Where is that video on how to make money in a down market?

 

[41mag]

I never trusted stocks. Precious metals always. My gold, silver, platinum and lead will always have more value than those paper/electronic transactions ever will.

 

[sparked1]

I never trusted stocks. Precious metals always. My gold, silver, platinum and lead will always have more value than those paper/electronic transactions ever will.

Gold has definitely been a good investment during all this. Never got into it myself, but something I'll be paying closer attention to.

 

[41mag]

Gold has definitely been a good investment during all this. Never got into it myself, but something I'll be paying closer attention to.

And it is something you get to keep your hands on. Tangible, liquid assets.
It it all takes a dump tomorrow and we have to go on survival mode, that metal will still be good. Paper dollars will be the first thing that falls.

 

[sparked1]

And there goes the first "circuit breaker" getting tripped for the day. Indexes down 7%, trading has been halted for 15 minutes. Good times!

 

[41mag]

Look at palladium too....it has been hot for a few years now

 

[sparked1]

And it is something you get to keep your hands on. Tangible, liquid assets.
It it all takes a dump tomorrow and we have to go on survival mode, that metal will still be good. Paper dollars will be the first thing that falls.

Yeah, but then there's that the whole risk/reward thing. If society ever gets to a point where we're back to bartering with gold pieces, the only precious metal I really care about is lead, which I keep on-hand in great quantities.

 

[500mag]

Yeah, but then there's that the whole risk/reward thing. If society ever gets to a point where we're back to bartering with gold pieces, the only precious metal I really care about is lead, which I keep on-hand in great quantities.

You don't barter with PMs, since they ARE money. You barter with other goods....

 

[sparked1]

Look at palladium too....it has been hot for a few years now

Yeah, that's what I've actually been looking at in precious metals. Cobalt too. Right now China controls most of the world's cobalt supply, but there is exploration happening which aims to alleviate that, so definitely keeping an eye on both.