This Is Clearly The Type Of Action That You Get In A Bear Market

This is clearly the type of action that you get in a bear market. I think we are in a bear market and many stocks have been in a bear market for a long time but it was being masked by some of these big profile names that were doing so well that were masking the problems beneath the surface. Now that those stocks have joined the party they are no longer obscuring what is going on.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

There Many Stocks Down 60, 70, 80 Percent

All the major averages are now lower than they were when the Federal Reserve ended QE3. Pretty soon they will all be lower than they were when the Federal Reserve started QE3. And when you dig beneath the sectors there are many individual stocks that are down 20, 30, 40, 50, 60, 70 and 80 percent. Look at GoPro (GPRO) now down 82 percent from where it was last year, that was one of the highly touted IPO`s and obviously it has now collapsed.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.