At the time I am writing this article, the stock market is remaining in a free fall with the Dow Jones industrial average down more than 240 points.
The financial sector, the banks are being especially hit hard with Morgan Stanley down more than 5%, Goldman Sachs down more than 4%, and J.P. Morgan down 3%
Gold is surging higher, Silver is also higher, cash is surging into the perceived safety of Bonds, and the US dollar continues it's hard sell off.
I find the price action with regard to the banks selling off along with the dollar especially disturbing in this environment, and this is something we need to pay attention to again-echoes of the 2008 melt down.
It is my opinion that the middle class is about to receive a full and complete shearing as the inflated housing market, and stock market correct to fair value.
Is this the beginning of yet another engineered melt down?
What's your opinion?
Gregory Mannarino
