Black Friday, Black Friday, Black Friday. That's what we hear about. But what if Black Friday Turns Red? Turns into RED FRIDAY??
It may happen, and it may happen as soon as TODAY!
For Sears and Toy's R Us, It's DEAD Friday! Others, mostly brick and mortar, will be following in just DAYS! Some have held on for dear life trying to make it to today and on thru Christmas. Bankruptcy Monday is coming SOON!
A LOT of wealth came out of the markets in the last few days. The average portfolio took a very big hit. The high flyers like Facebook, Apple, Square and others got MASSACRED!
And let's not forget about the Bitcoin CRASH! Nearly $20k at this time last year, the hottest Christmas gift for movers and shakers and now trying to hold on to $4000.
Will this tighten some purse strings? You bet it will. Black Friday, TODAY, may look more like a hangover after a multi-day binger. If that occurs, we will see Red Friday and it won't be pretty. If you think the stock market is a mess now, wait until the plunge of retail sales. Then you will see a REAL plunge!
I don't know how it will go today, but it's definitely something I would be concerned about during the years ahead.
Happy Black Friday!