Welcome to the first day of the new year. This will be a rough day for stock owners.
- Saudis cut diplomatic ties with Iran
- Oil up 3%
- Middle East tensions among OPEC members
- China growth concerns
- World markets down
- Circuit breakers halt trading in China after 7% drop
- Milk prices to spike, midwest blizzard kills 30K cows
- China: Weak growth data
These are just some of the headlines that lead to the worst opening of a new year since 1932. Grasshopper, you will soon understand that the markets are moved by news. The Dow opened -300, Nasdaq -110 and the S&P -35. Right now it is 12 noon and the Dow is -430, Nasdaq -140 and the S&P -48. This is not a good start but it really will not affect what I do. Today I hope to find a deal I like to start bringing in money to start the year. It looks like the market is settling a little so I’m going to start looking for a way to bring in some cash. I will find something and post again today.
The Options Coach