Markets Throw a Tantrum Over Bonds

Time to panic? With the DJIA dropping 800 points in one day, what do we do? Basically, nothing. In fact, you will probably see a small uptick in markets today, Aug 15.

I've been calling for market weakness since June. I've pointed out that the markets are overvalued, and others like Warren Buffett have large cash reserves right now.

Even with the 800 drop in the Dow and a 250 point drop in the NASDAQ, the markets are not yet in correction territory.

But have a plan.

Here's the chart of the QQQ, the ETF that follows the NASDAQ. And below, I've added a video to Phil Town's take on market crashes. While he says he doesn't really care about correction or crashes, he does in the sense that when markets are down, it's time to actually start buying.

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