And Joe can quote chapter and verse as to how his clientele -- wealthy folks one and all -- are coming up shy for the first time in decades. How they don’t want to write checks right now because they are hustling around all day making sure that none of their brokerage accounts are about to get swallowed up and damn sure that none of their bank accounts are over the FDIC limit.

But you want to know what’s got Joe really nervous? It’s the fact that those wealthy folks, the top 10-percenters who contribute some 70% to our national gross domestic product, are dummying up, pulling in their horns and battening down the hatches.

He didn’t need to wait for Unity Marketing’s poll that shows that these “rainmakers” spent 20% less on luxury goods in the second quarter. He sees them all the time now… at the next table over at the cheap wings joint.

So here are two take-aways from my dinner with Joe: First up, you might care to look into Buffalo Wild Wings stock (BWLD:NASDAQ). I’ve examined their chart, and this sudden swelling of their customer base as the rich go downmarket could push them up 20% over the next few weeks. Maybe even 35% if they get rolling.

And I’ll tell you right now that I also sent their chart to my partner Bryan Bottarelli this morning... and we are looking at call options that stand to gain 110% off that move.

The other bit of advice is considerably more grim: When the ultra rich are worried about their brokers and their bankers, (and trust me, the few that tell you they aren’t are fibbing to you), then us merely wealthy types need to keep on shorting those financial stocks, ‘cause we’re going to need the cash.

Adam Lass is Senior Editor, WaveStrength Options Weekly
Courtesy: http://www.taipanpublishinggroup.com