Looks like the stock market is about to get a dose of reality. News that Apple is cutting iPhone production by 30% seems to have jarred traders that the recession is on.
Plenty of distractions in the news:
-Oregon standoff
-European immigration problem
-North Korea testing a Hydrogen bomb
-Star Wars
-Matin Shkreli, Pharma CEO bad boy
-Economic stats that don't mesh with reality
Edit1: -Iran and Saudi Arabia squabble
-Obama's Gun control issues
Edit2: Swiss Army General warns its citizens that need to arm themselves.
Edit3: 11pm, 6 Jan 15, China's Market crashes in 15 min after opening, closes down 7% for the day. World markets will be in trouble tomorrow morning.
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dontwatchtv ago
It's up $23 since this morning. I think it can go to $1600--where it peaked a few years ago-- in the short run. A stock market crash would bring it back down, though, because of traders having to cover their positions.
Or if the whole house of cards fall down, including all the fake paper gold, physical gold can go to $5k+.