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Dow Down 4.3%

August 30, 2013 By E.J. Smith - Your Survival Guy

This is the Fed’s market. The carnage in the foreign exchange market is proof positive that Bernanke and Co. is in way over its head. Meanwhile the Dow is down 4.3% in August and on its way to its worst month since May 2012. Steve Russolillo explains in the Wall Street Journal:

The uncertainty explains Wall Street’s negativity this month. The Dow has edged up in each of the past two days, but it fell in 13 of the past 17 trading days. The blue-chip average is down 4.3% in August, on track for its worst monthly performance since May 2012. The declines have been even more stark in emerging-market currencies, which appear to be more susceptible to the Fed slowing its asset-purchase programs.

The mixed batch of economic data only put more emphasis on the government’s monthly jobs report, due one week from today. That will be the last of the major economic indicators before next month’s policy meeting.

The Fed only has a few weeks left before it elects whether to slow its stimulus. The decision won’t be an easy one.

dow jones august 2013

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E.J. Smith - Your Survival Guy
E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998.

E.J. has trained at Sig Sauer Academy in Epping, NH, NH, where he completed course-work in Practical and Defensive Handgun, Conceal Carry Pistol, Shotguns, Precision Scope Rifle and Kidnapping Prevention.

E.J. plays a Yamaha Recording Custom drum set with Zilldjian cymbals. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris.

Please get in touch with E.J. at ejsmith@yoursurvivalguy.com

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