The Price of Gold Finally Woke Up

"The real standout today in the market was gold right the price of gold finally woke up or traders woke up and noticed how cheap gold is and it rose by about $30 today back over 1220."

- Peter Schiff, Ep. 399: "Gold Breaks Out, Bitcoin Breaks Down" of the Peter Schiff Podcast

Stocks: A True Bear Market

"Everything is going down and so now I think the stealth bear market that started earlier in the year is now becoming a true bear market. Of course, nobody thinks so. Everybody that I'm listening to is talking that it's just a correction in a bull market."

- Peter Schiff, Ep. 399: "Gold Breaks Out, Bitcoin Breaks Down" of the Peter Schiff Podcast

Markets: Stocks & Bonds

"If we get stocks going up then interest rates are gonna go back up which is gonna scare the market."

- Peter Schiff, Ep. 399: "Gold Breaks Out, Bitcoin Breaks Down" of the Peter Schiff Podcast

It's Not A Normal Bull Market Correction

Everybody is talking about how this is just a normal correction in a normal bull market. Well, first of all there's nothing normal about this bull market, right? This bull market is already the longest bull market ever. So based on duration it ain't normal. Also based on all the stimulus that was required to create it, all the quantitative easing, the years of 0% interest rates, there is nothing normal about this bull market. If anything it's a bubble, it's not just a bull market and of course if it's not a normal bull market then why would it have a normal correction, right?

My Feeling About The Stock Market Was Confirmed

My feeling about the stock market was confirmed today with a 831 point drop in the Dow Jones Industrial Average down 3.15%. This is the biggest decline that the Dow has had since that 1000-plus point drop that we had in February. I think it's maybe the third biggest down day ever point-wise.

Week Stocks Beneath The Surface

If you look at some of the sectors that continue to get beat up making new 52 week lows so even though the headlines are probably gonna be about the Dow Jones Industrials Average (DJIA) making another all-time record high, beneath the surface are a lot of stocks that are having a lot of problems.