Segment 1: Life Insurance, Wills, and Trusts SEGMENT BEGINS AT 00:38 Are you prepared for life’s major uncertainties? Nobody plans to fail. They just fail to plan. In this segment, Jerry Robinson wraps up our ongoing discussion of Level Two of our Five Levels of...
CHART: Volatility Rocks the Global Financial Markets
Then suddenly, just a few days ago, things got real.
Turmoil out of China caused concern among global investors. First, Chinese stocks felt the pain. Within a matter of hours, panic selling set in as investors began selling off stocks, including U.S. stocks.
The global market selloff sent the U.S. volatility index ($VIX) soaring 300%+ in just a few days!
In fact, the volatility index shot up quicker than ever before… in history.
Fortunately, we purchased long call options on volatility near its historic lows back in June of this year. While we are happy with our current massive gains, it is still possible for volatility to jump even further in the weeks ahead.
Investors got a taste of volatility last week. And things could get even more interesting this week. In particular, keep a close eye on China’s PMI (manufacturing index) figures that will be released after the market’s close today. Economists expect those numbers to be down from last month. But any surprise figures could spark another sharp move in global stocks.
Major technical damage has occurred to the charts of U.S. stocks, and the path of least resistance is down. Be advised.
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Real-Time Market Update
(Courtesy of Finviz.com)
- BEIJING ENDS MARKET INTERVENTION… FOR NOW. China has abandoned efforts to boost stock market, instead going after those ‘destabilizing the market’ (FT)
- OBAMA PREPS CHINESE SANCTIONS. The Obama administration is developing a package of unprecedented economic sanctions against Chinese companies and individuals who have benefited from their government’s cybertheft of valuable U.S. trade secrets. (WaPo)
- EGYPT STRIKES OIL. Italian energy group Eni says it has found 30 trillion cubic feet of gas off Egypt’s coast, making it one of the world’s largest natural gas fields. (BBC)
- IRAN DEAL UPDATE. 31 Senators now support the Iran nuke deal… (WaPo)
Featured image courtesy of: CNBC