Peter SCHIFF (MAY 03,2018) The Stock Market Is Going To Crash in May 2018

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Report Date: May 2018

Peter SCHIFF:

Market Tends to Produce Better Returns in the First 4 Months of the Year
There is an old Wall Street adage: “Sell in May and Go Away”. The reason for that saying is that seasonally, the market tends to produce better returns in the first 4 months of the year, January through April, and then, historically, beginning in May and throughout the summer, the market can generally go down, and I think the time to buy back in is typically September/October. There are a lot of big down days, down months, crashes, so get out of the market in May, go away and then come back later in the year and buy back what you sold.

Selling Started Right out of the Gate
Today was May 1 and it looked like a lot of people were not going to wait to sell; they were selling right on the open. The Dow was down all day. At the worst, it was down better than 300 points but it pared its losses significantly, down just 64. But the NASDAQ, which was never actually down that much (when the Dow was down 300 the NASDAQ was down only about 25) the NASDAQ ended up positive 64. The S&P was up just under 7 points.

Facebook Getting into the Dating Business
Stocks were under pressure all day. I think the turnaround in Facebook – Facebook ended up a couple of percent. Mark Zuckerberg announced plans to try to clamp down – I think he said he would have 20,000 people working in compliance. They also announced that they are going into the dating business. I’m surprised it has taken Facebook so long to get into that space. It seems such an obvious fit. They already have everybody’s profile. I think some of the other online sites, Match Group which owns Plenty of Fish are falling. It’s like Amazon stepping into your market.

Heading toward 20,000
The market turned around and maybe that news lifted the NASDAQ, but to me, it was a weak day, the market was generally under pressure. The Dow did manage to hold onto the 20,000 mark. We were well below it – we were close to 23800. It is really going to get interesting is when the Dow gets down to 20,000. I think that’s where we’re headed.

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Comments

Max Min says:

5 cents economics with Pete Schiff.

fred said says:

A good Schiff in the mornng.

Pugile MuotoBene says:

GET OUT NOW! ITS HAPPENING! THINK OF YOUR CHILDRENS’ FUTURES!! HURRY! TRUMP’S COMING!!!

John Doe says:

If you say something long enough eventually you will be right. Moreover, finally you're saying May 2018 is the month and year the stock market will crash. Yes it should of happened already and yes it's much needed but don't try to use this to feed fear or false hope. If you're wrong like many before and after you, don't try to repredict you guess to another recession.

William Iannucci says:

You better be right Peter or it would be better not to predict it at all.

Donald Scott says:

Market will turn probably sometime in 2020– about 18 months after an inverse yield curve. But no one knows for sure. Smart INVESTORS don't worry about recession. They take some profit gradually during the peak and use it to buy during the downturn (sell high-buy low). But they keep most of their diversified portfolio. Don't listen to dooms-dayers–and never sell in a bear. Hold on a few years and things WILL turn around!! That's the way it works best.

rah digga says:

To title idk will we have to eat sandwiches made with sand

Fred estes says:

He is not always right!!
Look at his history!!

Jay Bird says:

Peter is playing it safe now I see. Dow 2500 down from high however. Straight up or straight down, there'll be no in-between next major historic move.
20,000 will only bring out the Trump hating libs who'll say it was 19,000 before Trump afterall….so Trump sucks like we always told you on CNN and MSNBC.
…..can't win with lunatics.

Tony Karaf says:

Mr Schiff stop chewing the gum
I am from the streets .if you don't know when it's gonna crash then shut up.everybody knows it's gonna crash tell us when.when I say us I don't mean wall street fox

William Courtney says:

Dude nobody is stealing your pictures and using them on their profile.

Sister Mary Clements says:

I was walking the dog and looked at my currency widget. Saw that 1 Canadian dollar was worth 6.6 American! I almost shit my pants. Then I realized that my widget had somehow switched to a different currency. Not Canadian. Phew. Close call lmao

Genus Musa says:

Western governments will just keep printing and printing money.This will continue until something they cannot control, or something they did not predict happens. I would imagine they are already planning a frig to the system, as they know a crash is coming.

Jomama 81 ranch says:

Well…. I am betting that there will be a new video in 4 weeks that will state "The Stock Market is Going to Crash in June 2018!"

Steven Siew says:

Finally a falsifiable hypothesis which anyone can test by waiting for 1st June 2018.

007wetz says:

Its crashing now. Peter is always right.

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